Companies reportedly in advanced talks
Reports from Australia over the weekend indicate that Fox Sports and CrownBet are in "advanced talks" regarding a joint venture to offer fantasy sports action.
The Australian newspaper observes that the new enterprise will be the media company's first venture into the local sports wagering market, and that the two firms are working toward a deal in time for the AFL season, which starts March 24.
"Subscription television group Fox Sports would provide marketing muscle and cross promotion with its AFL and NRL coverage, while CrownBet has a gambling licence, industry expertise and is the AFL's official wagering partner," the newspaper reports.
James Packer's Crown Resorts owns 67 percent of CrownBet, while Fox News parent News Corp Australia is the local arm of Rupert Murdoch's global publishing empire.
Fox does not anticipate an adverse reaction from other commercial advertising partners like Tabcorp, because fantasy sports is a relatively new and separate gambling genre on the market.
Fox Sports in the US, which is owned by Murdoch's cable TV and film giant 21st Century Fox, has backed US daily fantasy sports market leader DraftKings.
The news that CrownBet and Fox Sports are in talks on fantasy sports follows reports of a joint venture between Tabcorp and News Corp UK, called Sun Bets, struck in December.
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