News Corp and partner Telstra sold their interest in the Foxtel subscription TV and streaming service to DAZN Group.

News Corp and Australian telecom company Telstra have agreed to sell their jointly owned pay television company, Foxtel, to sports streaming service DAZN Group in a deal that values Foxtel at around US$2.

Loop Capital analysts believe that News Corp selling Foxtel to DAZN is a positive move that could lead to a credit rating upgrade and EPS accretion.