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☆ Murdoch’s News Corp to sell Australian unit Foxtel to Britain’s DAZN for $2 billion
▼ + stars: | 2024-12-23 | by ( ) edition.cnn.com time to read: +3 min

Rupert Murdoch’s News Corp has agreed to sell its Australian cable TV unit Foxtel to British-owned sports network DAZN for 3.4 billion Australian dollars ($2.1 billion) including debt, cutting the media empire’s exposure to a business upended by streaming platforms. DAZN is a broadcasting partner for Italy’s Serie A, Spain’s LaLiga, Germany’s Bundesliga and France’s Ligue 1. News Corp owns 61.4% of online real estate platform REA Group and is the parent company of publisher HarperCollins. Given the overseas ownership of DAZN, the transaction will need to be cleared by Australia’s Foreign Investment Review Board (FIRB). ASX-listed shares of News Corp climbed 3.5% Monday, outperforming a 1.6% rise in the broader market.

Persons: Rupert, Len Blavatnik, ”, DAZN, Shay Segev, Paul Budde, “, Robert Thomson, Dow Jones Organizations: Rupert Murdoch’s News Corp, Foxtel, British, News Corp, Italy’s Serie, Germany’s Bundesliga, Ligue, Netflix, Australian Football League, National Rugby League, ESPN, ” News, Dow, HarperCollins, Australia’s Foreign Investment, Board, Access Industries, Australia’s Treasury Locations: DAZN, London, North America, Europe, Asia, Ukrainian

☆ Australia blocks Telstra-TPG wireless internet deal, sparking legal fight
▼ + stars: | 2022-12-21 | by ( Byron Kaye | ) www.reuters.com time to read: +3 min

SYDNEY, Dec 21 (Reuters) - Australia's antitrust regulator blocked an asset transfer deal between Telstra and TPG, the country's No.1 and No.2 wireless internet firms, citing competition concerns, setting the scene for a legal battle over access to four million customers. In a deal announced in May, Telstra Group (TLS.AX) was to buy spectrum - airwaves which carry wireless internet - and transmission towers from TPG Telecom Ltd (TPG.AX), while TPG would keep selling 4G and 5G coverage using what would become Telstra's infrastructure. 3 wireless internet provider Optus, owned by Singapore Telecommunications (STEL.SI), opposed the deal saying it would build Telstra's market dominance. The decision sets up a second legal showdown between TPG and the ACCC in just over two years. "By knocking back this deal, the ACCC has helped ensure that our regional communities will continue to benefit from competition," said Optus CEO Kelly Bayer Rosmarin in a statement.

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