The Foxtel sale, and ARN Media makes another big move with Stephenson's hire
Welcome to a bonus edition for Unmade’s paying members, mostly written last night on board QF1 to Singapore.
Nothing was supposed to happen this week.
And indeed it didn’t. But yesterday, deals hastily wrapped up in the final hours of the last proper working week of the year, were announced. In the space of a few minutes on Monday morning, ARN Media was revealed as the next berth for Nine’s outgoing chief sales officer Michael Stephenson, and News Corp said it had agreed to sell Foxtel Group to international sports streaming operator DAZN.
Below, we explore what both developments mean.
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DAZN and bemused
It’s pronounced Da Zone. I suppose we’ll get used to that.
For an enterprise value of $3.4bn (and boy, they’ve been leaning heavily on that number) News Corp and Telstra have found their exit from Foxtel.
The buyer is international sports streamer DAZN.
It’s going to take a while before we find out what DAZN has really paid.
The complicated deal