The British sports streaming service DAZN has received a so-called recapitalization with a volume of 4.3 billion US dollars (3.7 billion euros) from its main shareholder. According to DAZN information on Tuesday, Access Industries converted existing preference shares, repaid loans and brought new capital into the company. With this step, DAZN’s debts will be repaid, according to the statement.
The fee-based sports Internet provider had recently invested heavily, in Germany, among other things, in media rights for the Bundesliga and the Champions League. The streaming service also acquired live matches from the Italian Serie A and most recently the Spanish LaLiga. DAZN is also available in Austria.
“The group’s revenue and subscriber numbers continue to grow strongly as the company expands its offering,” writes DAZN, without giving numbers. After Access Industries, which is owned by billionaire Leonard Blavatnik, the Japanese company Dentsu is the second largest shareholder.