Australian telecommunications giant Optus has confirmed it regularly reviews its businesses to realise their value, amid speculation it is considering selling its sports streaming platform to Nine Entertainment.
The Australian Financial Review (AFR) newspaper reported that Optus last year approached potential buyers for expressions of interest in the Optus Sport platform that owns the rights to broadcast the English Premier League (EPL).
The AFR wrote that one of those interested parties was Nine Entertainment’s sports streaming service Stan, which broadcasts major tennis tournaments including the French Open and Wimbledon, the UEFA Champions League and Super Rugby.
An Optus spokesperson told Azzet: “All companies regularly review their businesses to ensure they are maximising value and realising their full potential – Optus is no different.
“Optus Sport and our coverage of the Premier League, J.League, Women’s Super League and Emirates FA Cup remain an important part of Optus’ customer offering.”
The newspaper, quoting anonymous sources with knowledge of the discussions, reported Nine entered discussions about bringing Optus Sport into Stan in the December quarter and the discussions were ongoing.
Optus Sport was launched in 2016 after Optus won the rights to broadcast the EPL Premier League from subscription television service Foxtel, in a deal that expires in 2028 and is estimated to be worth $100 million per year.
Stan began investing in sports after securing a $100 million deal with Rugby Australia in in 2020 to broadcast Super Rugby, Wallabies and Wallaroos matches.
The speculation comes as global sports streaming giant DAZN prepares to enter the Australian market with the purchase of Foxtel from global media group News Corporation and Australian telecom Telstra for an enterprise value of A$3.4 billion.
Azzet also approached Nine Entertainment for comment but by the time of publication had received no response.
Singtel shares closed on Monday at SGD$3.15, up one cent (0.32%), valuing the company at SGD$51.69 billion (A$60.99 billion), while Nine shares closed at A$1.30, 1.5 cents higher than the previous close, valuing the company at A$2.06 billion.
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