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DAZN is suspending initial public offering (IPO) plans due to $1.35 billion in losses caused by soaring broadcast rights costs
The global sports streaming service had been eyeing a floatation following a restructuring in 2021.
DAZN owner Len Blavatnik recapitalized the business and implement a series of cost-cutting measures while tapping Shay Segev from gambling giant Entain as CEO.
The company also spent vast amounts to acquire top-flight soccer in Germany, Italy, and Spain.
