Australian telecom firm Telstra said on Monday it had sold a 35% stake in Australian cable TV and streaming unit Foxtel to British streaming platform DAZN.

Sports streaming company DAZN is buying Australia’s Foxtel Group from majority shareholder News Corp and minority shareholder Telstra in a deal with an enterprise value of $2.2 billion. The deal, which is subject to regulatory approval,

News Corp. and Australian telecom film Telstra have struck a deal to sell Aussie media company Foxtel Group to sports streaming platform DAZN in a deal worth about $2.1 billion.

News Corp is selling Foxtel to UK sports streaming and entertainment platform DAZN. Source: AAP / David Gray News Corp and Telstra have agreed to sell Foxtel Group to British sports streaming and entertainment company DAZN in a $3.

We are committed to supporting and investing in Foxtel’s television and streaming services, across both sports and entertainment, using our world-leading technology," said DAZN CEO Shay Segev

MUMBAI: It’s a deal that’s happening  down under but it’s given streaming platform Dazn group an upper hand as it continues its march towards spreading its wings even further globally. News Corp and Telstra owners of the Foxtel group– once a prized pay TV operator in Australia now turned streamer – have agreed to sell it to the Dazn group in a deal that values it at A$3.

Foxtel is being bought by major UK sports streaming company DAZN in a deal worth $3.4 billion. The Aussie streaming service that boasts millions of subscribers has been around for close to three decades.

By Scott Murdoch, Anousha Sakoui and Chandini Monnappa SYDNEY (Reuters) -News Corp has agreed to sell its Australian cable-TV unit Foxtel to British-owned sports network DAZN for A$3.4 billion ($2.1 billion) including debt,