News Stock News

News Corp (NWSA) shares gained Monday when Rupert Murdoch's media company and Australian telecom company Telstra agreed to sell their interest in subscription TV and streaming service Foxtel to sports streaming service DAZN Group for an enterprise value of 3.4 billion Australian dollars ($2.12 billion).

Sports streaming platform DAZN has agreed to buy News Corp's Australian cable TV unit Foxtel for A$3.4 billion ($2 billion) including debt.

Sports streaming platform DAZN has acquired Australian broadband company Foxtel Group from majority shareholder, Rupert Murdoph's News Corp, and minority shareholder, Telstra, in a deal valued at $2.2 billion.

Rupert Murdoch's News Corp said on Monday it would sell its Australian cable TV and streaming unit Foxtel to British over-the-top sports streaming and entertainment platform, DAZN for A$3.4 billion ($2.13 billion), including debt.

Rupert Murdoch has failed in his bid to alter his family trust to ensure control of his media empire passes solely to his son Lachlan, according to a sealed court decision cited by the New York Times. Nevada commissioner Edmund Gorman ruled that Rupert and Lachlan Murdoch acted in "bad faith" in attempting to amend the irrevocable trust.

NEW YORK and LONDON , Dec. 2, 2024 /PRNewswire/ -- Dow Jones today announced it has acquired WorldECR, an industry-leading provider of news, data and analysis on global export control and trade sanctions. This is the latest in a series of investments and acquisitions aimed at bolstering Dow Jones's portfolio of specialized news, data, analysis and events for business users.

News Corp. has defeated a shareholder proposal to adopt a recapitalization plan to eliminate News Corp's dual-class capital structure that includes regular shares and super-voting share, most of which are owned by the Murdoch family.

Activist investor Starboard Value had challenged ownership structure, as Murdoch family controls 41% of company votes