Sir Len Blavatnik Plans DAZN Flotation
Sir Len Blavatnik plans blockbuster London stock market flotation of his broadcasting service.
22:47 12 June 2019
Sir Len Blavatnik, the billionaire owner of Warner Music, is plotting a blockbuster London stock market flotation of his broadcasting service, known as the ‘Netflix of sport’. If the plans push through, a London listing would be the one of the biggest stock market entries ever for a UK technology start-up.
DAZN, which was acquired by Blavatnik’s Access Industries in 2014, is understood to be drawing up options, which include a possible flotation in the United States and a sale to a major technology company that can make a lucrative offer.
DAZN hopes to introduce a Netflix-like subscription that will enable viewers to stream sports live or on demand to smart TVs, phones and tablets. Last year, it signed an £8billion deal with Eddie Hearn’s Matchroom Boxing, which promotes fighters such as Britain’s Anthony Joshua.
Access Industries and DAZN declined to comment on a possible flotation. However, it said of the sale of the Perform Content business: ‘Discussions of this matter are ongoing and a further announcement will be made if and when appropriate.’