{"id":90348,"date":"2024-10-09T00:00:00","date_gmt":"2024-10-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/09\/pif-eyes-usd-1-bn-minority-stake-in-sports-streaming-platform-dazn\/"},"modified":"2024-10-09T00:00:00","modified_gmt":"2024-10-09T00:00:00","slug":"pif-eyes-usd-1-bn-minority-stake-in-sports-streaming-platform-dazn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/10\/09\/pif-eyes-usd-1-bn-minority-stake-in-sports-streaming-platform-dazn\/","title":{"rendered":"PIF eyes USD 1 bn minority stake in sports streaming platform Dazn"},"content":{"rendered":"

PIF wants to venture into sports streaming: <\/strong>The Public Investment Fund (PIF) is reportedly bidding to acquire a 10% stake in sports streaming platform Dazn<\/a> valued at USD 1 bn, Reuters<\/a> reports, citing two unnamed sources it says have knowledge of the matter. Negotiations between the PIF and Dazn have been ongoing since last year, without making any significant strides, one of the sources added. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Background:<\/strong> The London-based platform was in talks with unnamed advisors last December to kickstart the potential transaction, Reuters says. There\u2019s at least two other funds actively vying for the minority stake, a third source told the newswire, adding that the platform is looking for an overall valuation of USD 10-12 bn. <\/p>\n

What\u2019s Dazn? <\/strong>Dazn is a broadcasting partner for Italy\u2019s Serie A, Spain\u2019s LaLiga, Germany\u2019s Bundesliga and France\u2019s Ligue 1. Dazn subscribers also have access to American football, boxing, and baseball, among other sports. The platform acquired rights in September<\/a> to broadcast the Six Kings Slam, featuring Novak Djokovic and Rafael Nadal in Riyadh later this month. Dazn is owned by British-American businessman Len Blavatnik.<\/p>\n

By the numbers: <\/strong>Dazn\u2019s revenue grew 41% to USD 2.1 bn in 2022, white it incurred USD 1.1 bn in operating losses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dazn\u2019s revenue grew 41% to USD 2.1 bn in 2022<\/p>\n","protected":false},"author":1,"featured_media":90349,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[3231,10,14,1151,8],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-90348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-dazn","tag-enterpriseam-ksa","tag-ma-watch","tag-public-investment-fund-pif","tag-sports","wpautop","entry"],"acf":{"mongo_id":"fa58dc51-f50d-4202-aad2-c12a635a77ff","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/693.jpg","photo_position":"above","homepage_title":"","full_issue_title":"PIF mulls acquiring a USD 1 bn minority stake in London-based sports streaming platform Dazn","related_issue":[90341],"teaser":"Dazn\u2019s revenue grew 41% to USD 2.1 bn in 2022","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/10\/.7fd3717a-020e-4610-8ef4-dc961f21ebfc.mp3"},"yoast_head":"\nPIF eyes USD 1 bn minority stake in sports streaming platform Dazn - 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