Sports Streamer DAZN agrees to buy Rival ELEVEN

LONDON (Reuters) – Sports video streaming platform DAZN said on Tuesday it had agreed to buy ELEVEN Group’s global sports media business to bolster its rights portfolio, including top football leagues in the world. Portugal and Belgium.

DAZN said the deal will also complement its offering in Italy, German-speaking markets and Spain, where it already has top-tier domestic football rights, and bring it to Taiwan and other markets in Asia. from the South East.

Team Whistle, a short-form original social media content provider, is also included in the deal, which will bring in total revenue of around $300 million per year, DAZN said.

Terms were not disclosed, but a source familiar with the deal said the price was at the low end of a typical multiple of two to three times, in part because it was structured as a deal. purchase of shares.

DAZN Group CEO Shay Segev said the deal was “a big step forward in our mission to be the leading global sports platform”.

ELEVEN was founded in 2015 by Italian entrepreneur Andrea Radrizzani, majority owner of English Premier League club Leeds United.

He will join DAZN’s board of directors after he finishes, DAZN said.

Backed by billionaire Len Blavatnik, DAZN has expanded to over 200 countries, featuring sports like soccer and boxing. Last year, it won the right to broadcast live Serie A matches in Italy with a bid of 2.5 billion euros ($2.7 billion).

ELEVEN Group was advised by Guggenheim Securities.

(Reporting by Paul Sandle; Editing by Ken Ferris)

Copyright 2022 Thomson Reuters.

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