British platform is backed by billionaire Len Blavatnik and run by Shay Segev, former chef executive of gambling giant Entain

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The global sports streaming service DAZN has agreed to buy a majority stake in the Australian pay-TV giant Foxtel and its subsidiary streaming services Kayo, Binge and Hubbl.

The $3.4bn deal, which is still subject to regulatory approval, could boost the international profile of Australian sport and provide a major windfall to DAZN, which remains relatively unknown in Australia.