Respected business publication says two daily fantasy sports leviathans have common interests
The respected business publications Bloomberg and Wall Street Journal have reported that daily fantasy sports billion-dollar behemoths FanDuel and DraftKings are engaged in merger talks.
Apparently investors have been lobbying management for such a merger for some months, arguing that both companies have similar challenges – especially in the United States – and almost identical businesses that could benefit from such a move.
However, legal experts have warned that a merger could fall foul of the strict anti-trust laws in the States.
See the full Bloomberg story here:
No final transaction has been agreed, and the deal may still fall apart, Bloomberg's sources said.
Representatives for the two companies declined to comment when approached by Bloomberg.
Investors in DraftKings include Madison Square Garden Co., and the Kraft Group, which owns the New England Patriots. FanDuel is backed by KKR & Co. and Time Warner Inc., among others.
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