DAZN had a $3.4b takeover - now questions are being asked

It's been eighteen months since Foxtel was purchased from News Corp and Telstra for $3.4 billion; now, media giant Dazn is questioning itself.

The AFR reports that Peter O’Connell, Foxtel's new chief executive is raising discussions about the future of its broadcasting.

Sources told the outlet: “O’Connell is an M&A man, not a long-term operational CEO. If DAZN were to consider selling Foxtel, he is more than qualified to ensure a good outcome.”

The AFR, reported on Friday that Dazn and Tabcorp “had held preliminary discussions about some form of transaction. These discussions were early stage, according to people briefed on the matter, and did not consider anything like a pricetag.”

Sources told the AFR that “Dazn had found Foxtel far more complex than it had expected. The rest of the business is geared toward sports streaming; Foxtel is an entirely different operation.”

Dazn, which is controlled by billionaire British-American businessman Len Blavatnik, has owned Foxtel only since April last year.

Dazn acquired Foxtel after News Corp could not float the business last year.