News Corp to Sell Foxtel to British DAZN for $2.1 Billion

News Corp and telecommunications company Telstra have agreed to sell Australian cable and broadcasting company Foxtel to British sports platform DAZN. The struggling company has been valued at 3.4 billion Australian dollars, including debt. As part of the deal, all shareholder loans valued at 578 million Australian dollars will be repaid, and Foxtel's existing debt will be refinanced at closing. News Corp will own a 6% stake in DAZN, while Telstra will hold a 3% stake in the London-based global broadcasting platform backed by billionaire Len Blavatnik.