Fox Corporation interested in Tabcorp’s wagering and media business

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Fox Corporation interested in Tabcorp’s wagering and media business

US media outlet Fox Corporation is currently working with other investors on a potential bid for parts of Australian operator Tabcorp, according to The Sydney Morning Herald.

Fox Corporation, which is owned by the Murdoch family, is reportedly interested in a deal for Tabcorp’s wagering and media division, with heavyweight bookmaker Matthew Tripp supposedly involved in the potential bid.

Tripp last month re-entered the local market with an AU$25m ($19.6m) personal investment in wagering software and data company BetMakers. Racing New South Wales chairman Peter V’landys is reportedly another who could be involved in any potential deal.

No official approach from Fox Corporation has been made to the Australian gaming operator, with Tabcorp currently considering at least two other offers from US private equity firm Apollo and Ladbrokes owner Entain.

Tabcorp has not confirmed if it will move towards a formal sale process, amid pressure from major investors to demerge its underperforming wagering arm.

The Los Angeles-based Fox Corporation is currently run by Lachlan Murdoch, with the company recently signalling its intent to succeed in the Australian wagering industry after registering a trademark for its betting business FOXBet in Australia.

Murdoch has already enjoyed much success from investments into the US wagering market, and he is now reportedly weighing up potential partnerships with Australian gaming companies.