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DAZN Group in $1bn funding push

August 21, 2020 11.24 Europe/London By Julian Clover

DAZN Group, the streaming service backed by billionaire Len Blavatnik, is looking to raise up to $1 billion.

It follows a period of heavy spending on sports rights.

Bloomberg reported DAZN to be in the early stages of an initial public offering, quoting “people with knowledge of the matter”. Other options are said to include a so-called special purpose acquisition company, or SPAC, and the sale of its Japanese business.

A SPAC is company with no commercial operations that is formed with the sole purpose of raising capital through an initial public offering.

A previous plan to raise $500 million through an IPO was dropped at the start of the coronavirus.

DAZN is currently available in Brazil, Spain, Germany, Austria, Switzerland, Canada, Italy, United States and Japan. It has plans to add in the region of 200 counties in the next year.

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Filed Under: Channels, Editor's Choice, Finance, Newsline, Top Story Tagged With: DAZN Edited: August 24, 2020 12:34

About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on Twitter @julianclover, on Facebook or by email at jclover@broadbandtvnews.com.

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