“News Corp Has Completed the Sale of Australian Media Company Foxtel Group to Dazn Group, The Companies Said on Wednesday. News Corp and Aussie Telecom Giant Telstra Had Struck The Deal with The Sports Streaming Platform Late Last Year. The Transaction Is Worth About $ 2.1 Billion. The Completion of the Deal Follows Dazn Receive Approval”, – WRITE: www.hollywoodReporter.com
The complex of the deal follows Dazn Receive Approval for the Acquisition from the Foreign Investment Review Board, the Australian Competition and Consumer Commission and Other Regulatory Author.
With the complection, Shareholder Loans Were Repaid to News Corp, and News Corp Received a 6 Roughly Percent Stake in Dazn.
News Corp is Owned by the Family of Ruper Murdoch and Is The Home to Dow Jones and Such Publications As The Wall Street Journal as well as the New York Post.
News Corp’s Senior Vp and DEPUTY CHIESF FINANCAL Officer Andrew Cramer Has Also Joeded The Board of Dazn, and the Media Giant Emphasized that It and The PlayForms Remain Com. Australian Sport and Entertainment. ”
SAID News Corp Ceo Robert Thomson: “Foxtel’s Successful Transformation to Becomeing A Leading Provider of Sports and Entertainment Isa A Result of The Team’s Tenis Should Be Proud of Their Contribution to That Success in the Ultra-Competitive Content Contest. ”
HE ADDED: “We Are Confident that Dazn is Poured to Drive the Next Phase of Foxtel’s Growth, and We Are Delighted to Be Dazn’s Partner and Share. Optionality. ”
News Corp Cfo Lavanya Chandrashekar SAID: “The Sale of Foxtel is Significant for News Corp, and Will Enable Greter Focus on Our Core Growth Pillars, Which Dave Over 95 Per Eb. Company’s Fiscal Second Quarter, ”SAID News Corp’s Chief Financial Officer. “IT will also meaningfully strengthan Our Balance Sheet and Should Reduce Future Capital Intensity and Improve return on Invested Capital.”
NEWS CORP ALSO HIGHLIGTED THAT IT EXPECTS OF THE SALE TO BE ACCREETIVE TO ITS EARNINGS per Share.
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