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News Corp (NYSE: NWC) has successfully finalized the sale of its Australian cable-TV business, Foxtel, to DAZN Group Limited. Valued at A$3.4 billion, approximately $2.14 billion USD, this transaction marks a significant strategic shift for News Corp.
The deal, approved by the Australian Competition and Consumer Commission, includes News Corp receiving a minority interest of about 6% in DAZN. Additionally, Andrew Cramer from News Corp will join DAZN’s board.
This move is set to enhance News Corp’s financial position by reducing capital demands and improving returns on investments, allowing the company to concentrate on its primary growth sectors.
News Corp Completes Strategic Sale of Foxtel to DAZN Group
The completion of the Foxtel sale allows News Corp to refocus its efforts on its core growth areas. By divesting from the cable-TV sector, News Corp aims to streamline its operations and bolster its financial health. This strategic decision is expected to lower future capital requirements and enhance returns on invested capital.
With a strengthened balance sheet, News Corp is poised to invest more heavily in its primary business segments, which are pivotal to its earnings. The transaction not only provides News Corp with a financial boost but also aligns with its long-term strategic goals.
With the acquisition of Foxtel, DAZN is positioned to lead the next phase of growth for the cable-TV business. DAZN’s expertise in sports streaming is anticipated to revitalize Foxtel, leveraging the existing infrastructure to expand its offerings.
This acquisition signifies a new chapter for Foxtel, as DAZN plans to inject innovation and broaden its market reach. The presence of Andrew Cramer on DAZN’s board is expected to facilitate a smooth transition and integration of Foxtel into DAZN’s broader business strategy, ensuring continuity and growth.
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NWS Stock Brief
News Corp’s stock (NWS) has seen varied movements recently, reflecting market reactions to the company’s strategic changes. The stock opened at $30.13, slightly down from the previous close of $30.37, with fluctuations between a day low of $29.88 and a high of $30.825. As of April 2, 2025, the stock was priced at $30.28, with a promising premarket price of $31.25. Despite a dip on March 28th to $29.66, the stock has shown signs of recovery, supported by analysts’ strong buy recommendations. The consistent target price of $26.5 suggests potential market mispricing, offering an opportunity for investors.
News Corp’s financial metrics present a stable outlook for the company. With a dividend yield of 0.66% and a market cap of approximately $15.9 billion, the company maintains a solid financial foundation. The stock’s beta of 1.355 indicates a higher volatility relative to the market, yet the company’s current and quick ratios suggest healthy liquidity.
A manageable debt to equity ratio further underscores the company’s financial stability. As News Corp pivots towards its core growth areas, the company’s financial health, coupled with a strategic focus, positions it well for future success.
Disclaimer: The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.
About the author
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird’s US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
