M&A: NEWS CORP

Form Type: 8-K

Filing Date: 2024-12-23

Corporate Action: Acquisition

Type: New

Accession Number: 000156470824000668

Comments: On December 22, 2024, News Corporation announced a definitive agreement to sell NXE Australia Pty Limited, known as Foxtel, to DAZN Group Limited. This decision follows a strategic review of Foxtel, aimed at optimizing the Company’s portfolio and simplifying its structure. The terms of the agreement stipulate that the Shareholders, which include News Corporation and Telstra Corporation Limited, will transfer 100% of Foxtel's equity securities to DAZN. In exchange, they will receive newly issued shares of DAZN, repayment of outstanding loans to Foxtel in cash with accrued interest, and the transfer of Foxtel’s remaining debt. The transaction is expected to close in the second half of fiscal 2025, pending regulatory approvals and customary closing conditions. A press release detailing this announcement was filed as Exhibit 99.1 to the report.

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