Sports Streamer DAZN Makes $100 Million Bet on Technology Company ViewLift
DAZN is seeking to expand its reach within the U.S.
DAZN agreed to acquire technology company ViewLift for approximately $100 million to expand its U.S. sports market presence.
ViewLift provides streaming technology for 15 U.S. professional sports teams and five regional sports networks.
DAZN says it sees opportunities in the U.S. regional sports market.
Sports media company DAZN has agreed to buy technology company ViewLift for roughly $100 million, according to people close to the deal.
London-based DAZN, which streams sports including soccer, boxing and basketball and is available in more than 200 countries and territories, is seeking to establish itself as a leader in the U.S. sports market. DAZN also provides access abroad to National Football League games through NFL Game Pass.
ViewLift provides technology for streaming services for 15 professional U.S. sports teams, five regional sports networks, and clients in news and entertainment. DAZN is betting that the acquisition will help it expand its footprint in the U.S.
ViewLift was founded more than a decade ago, initially focusing on streaming films, before pivoting to other content, including sports.
Regional sports networks have come under financial pressure in recent years as consumers cut the cord on their cable TV packages. Main Street Sports Group, which operates channels branded as FanDuel Sports Network, has struggled to make payments to sports franchises. In February, Main Street told teams that it would wind down operations unless it reaches a strategic transaction. DAZN had been in talks to acquire a majority stake in Main Street.
“We think there is a great opportunity for DAZN to play a big role there and be part of the solution,” Shay Segev, DAZN’s chief executive, said in reference to the business challenges facing regional sports.