Latham & Watkins has advised DAZN, a world-leading sports entertainment platform, on an agreement to acquire Foxtel Group (Foxtel), one of Australia’s leading media companies, from News Corp and Telstra at an enterprise value of US$2.2 billion, subject to regulatory approval.
The acquisition will help to establish DAZN as a leader in sports entertainment in Australia, expand DAZN’s global footprint, and enhance the group’s standing as the global home of sport.
Under the terms of the transaction, News Corp and Telstra will become minority shareholders in DAZN, enabling them to retain an interest in Foxtel.
The Latham team was led by London partners Sam Newhouse and Hector Sants, with associates Chris Ramsey, Ryan Martin, and Joanne Amos. Advice was also provided on financing matters by London partner Ross Pooley, with associate Corrie Eames; on entertainment, sports, and media (ESM) matters by London partner Patrick Mitchell, with associate Jarren Koh; on antitrust matters by Brussels partner David Little, with associate Jamie Mansour; and on tax matters by New York partner Eric Kammerman and London partner Sean Finn, with London associate Aaron Bradley.
Latham worked as an integrated legal team with Australian counsel, Corrs Chambers Westgarth, whose deal team was led by partners Adam Foreman and Sandy Mak.
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