DAZN steps up hunt for $1bn
August 21, 2020
DAZN Group, the sports subscription and distribution company, is looking to raise new investment of as much as $1 billion. It is reportedly consulting advisors on options including selling assets and an IPO.
This is not the first time that the media company has sought investment. Fund raising efforts for $500 million were first reported in May as the cost of postponed sport leagues set in.
Bloomberg reports the need for funding comes as DAZN is on the verge of launching its new global service and is “committed” to adding more live sports and sports content to the service from early next year.
James Rushton, DAZN Group’s acting chief executive, has said that the paying subscriber base is on track to be “fully recovered to pre-Covid levels” by the fourth quarter of this year.