News Corp in talks to launch FOX Bet in Australia

The FOX Bet brand belongs to Rupert Murdoch’s Fox Corp.
The FOX Bet brand belongs to Rupert Murdoch’s Fox Corp.

News Corp Australia is in talks with Fox Corp and bookmaker Matthew Tripp about launching the FOX Bet brand.

Australia.- News Corp Australia, one of Australia’s largest media conglomerates, is in advanced talks with an eye to launch Fox Corp’s sports betting brand FOX Bet in Australia.

Both News Corp and the US-based Fox Corp belong to media magnate Rupert Murdoch.

Fox Corp previously looked into establishing the FOX Bet brand in Australia through a partnership with another wagering company but then decided to launch the brand alone.

Now, News Corp is in talks with Matthew Tripp, former boss of Sportsbet and founder of BetEasy, with an eye to launch FOX Bet with equity partners.

Tripp is also behind BetMakers Technology Group’s AU$4bn (US$3.09bn) offer to acquire Tabcorp’s wagering and media businesses.

If that offer is successful, Tripp could be involved in both companies, which could result in BetMakers taking over FOX Bet and Tripp operating the two brands side-by-side.

Tabcorp has not made any comments regarding the BetMakers offer. According to BetMakers, the acquisition could improve Tabocorp’s monetisation of its content globally by leveraging BetMakers’ technology and B2B expertise.

As BetMakers’ strategic adviser, Tripp said: “Aside from the value that this offer is anticipated to unlock for shareholders in both companies, this is an incredibly exciting opportunity for the Tabcorp Wagering and Media business to maximise its commercial potential on a global scale.”

There are other offers on the table. The British gaming giant Entain has upped its own offer for Tabcorp, from AU$3bn to AU$3.5bn.

Apollo Global Management also has offers on the table, one equaling the offer made by Entain and another offering US$3.10bn including Tabcorp’s gaming services business.

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