News Corp will help launch an online sports-betting company in Australia, according to people familiar with the matter
News Corp is the owner of Dow Jones & Co., the publisher of The Wall Street Journal.
A News Corp spokeswoman referred questions to a colleague in Australia, who couldn’t immediately be reached for comment. The consortium is set to announce the new company this week, some of the people said. They said it is expected to launch in time for the lucrative Australian spring horse racing season, which begins in late August and lasts through early November with the running of the popular Melbourne Cup.
The venture is under a 10-year agreement, one of the people said. It will be promoted via News Corp’s media assets that include daily newspapers and news websites, the Foxtel subscription television service and Kayo sports-streaming business.A personal, guided tour to the best scoops and stories every day in The Wall Street Journal.Tekkorp Capital is headed by Matt Davey, an Australia-born betting entrepreneur and the former chief executive and major shareholder of NYX Gaming Group.