Saudi government buys stake in Foxtel’s new owner, DAZN

Zoe SamiosBusiness reporter

Feb 18, 2025 – 4.23pm

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Saudi Arabia’s sovereign wealth fund has bought a minority stake in global streaming business DAZN, giving the Gulf kingdom an influential voice in the company which is buying subscription broadcaster Foxtel.

DAZN, which specialises in sports streaming, is controlled by British businessman Len Blavatnik. In December, it agreed to buy Foxtel from News Corp and Telstra in a deal it said valued the local group at $3.4 billion.

Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian.