On Friday, DAZN announced a recapitalization by Access Industries, the holding company that owns and operates the streamer.
The Len Blavatnik-owned Access is DAZN’s primary shareholder, and the recapitalization is worth $4.3 billion.
This strong progress paved the way for Access Industries to recapitalize the business in December 2021. As part of this recapitalization, Access Industries subscribed for $4.3 billion of new shares in the Group’s topco, DAZN Group Limited, converting existing preference shares and retiring shareholder loans.
This left the Group without borrowings at the end of 2021. Access has additionally subscribed for a further $250m of new shares post-recapitalization.
DAZN also announced a partnership with Buzzer in the US, making moments from DAZN’s boxing fights available for purchase on the service.
As part of the agreement, Buzzer will market and distribute live boxing moments from some of the biggest fights in 2022 – currently available as part of a DAZN subscription – with the shared goal of reaching even more of the younger generation of fans, where and how they are watching sports. Buzzer will ensure fans don’t miss the best action by providing access to championship rounds, rounds immediately after a knockdown occurs, and more. DAZN content will be available on Buzzer in the U.S. for purchase instantaneously through secure and easy micropayments, giving fight fans the unprecedented opportunity to buy only those moments they want to watch.
After an aggressive push into the US market, DAZN’s ambitions stateside took a hit at the start of the pandemic. The primary live rights it still holds in the US include the UEFA Women’s Champions League, Matchroom Boxing, and Golden Boy.
[DAZN]
