Australia’s leading independent law firm, Corrs Chambers Westgarth has advised DAZN Group Limited (DAZN) on its A$3.4 billion acquisition of 100% of the Foxtel Group (Foxtel) from Foxtel’s shareholders, News Corporation (News) and Telstra Group (Telstra).
DAZN, a premier global sports streaming platform, has acquired 100% of the share capital of Foxtel, Australia’s leading provider of a subscription television broadcasting services to subscribers from News and Telstra.
The transaction was led by Corrs partners Adam Foreman, Sandy Mak and James North, and was supported by partners from the firm’s corporate, technology, media and telecommunications, tax, competition, banking and finance, real estate, environment and planning and employment practices. Corrs worked closely with DAZN’s legal team, Ben Barlow, Marie Ingham and Thomas Maw, and its global legal advisers, Latham & Watkins, led by partners Sam Newhouse, Hector Sants and Ross Pooley, to advise on all aspects of the transaction.
Commenting on the matter, Corrs corporate partner Adam Foreman said: “We are delighted to have assisted DAZN on this exciting opportunity to grow and build a global sports entertainment platform and lead the digital transformation of sports.”
“The transaction highlights Corrs’ capability in advising on media business transactions that are the subject of complex media regulations,” said Corrs head of technology, media and telecommunications, James North.
Corrs head of corporate, Sandy Mak added: “This transaction reinforces Corrs’ reputation as experts in managing complex, cross-border deals and demonstrates our expertise acting on highly regulated M&A transactions.”