Disney's ESPN nears large partnership deal with DraftKings - Bloomberg News




  • In Business
  • 2022-10-06 23:06:29Z
  • By Reuters
 

(Reuters) - Walt Disney Co's ESPN is nearing a large new partnership deal with sports-betting firm DraftKings Inc, Bloomberg News reported on Thursday, citing people familiar with the matter.

The potential deal will allow the sports broadcaster to capitalize on the growing wave of legalized sports betting, according to the report, which did not give details of the financials or structure of the partnership.

Shares of DraftKings jumped 9% in extended trading on Thursday.

DraftKings declined Reuters request for comment, but pointed to its "long-standing standing relationship with ESPN".

ESPN did not immediately respond to Reuters query.

ESPN has been looking to license its brand to major sports-betting companies for at least $3 billion over several years to take advantage of the booming online betting industry, the Wall Street Journal had reported in August.

Disney holds a stake in DraftKings, which it acquired as part of its acquisition of Twenty-First Century Fox's entertainment assets in March 2019.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Shailesh Kuber)

COMMENTS

More Related News

Bowl Projections College Football Playoff Predictions Updated Before Championship Weekend
Bowl Projections College Football Playoff Predictions Updated Before Championship Weekend

Bowl Projections and College Football Playoff Picks after the latest CFP rankings and before Championship Weekend.

Public corruption case: Will undercover agents
Public corruption case: Will undercover agents' recordings be played at Householder's trial?
  • US
  • 2022-11-30 04:00:24Z

As the trial of ex-House Speaker Larry Householder draws near, will jurors hear undercover agents' recordings, character witnesses and other evidence?

Australia
Australia's Carbon Revolution to Merge With Twin Ridge SPAC

(Bloomberg) -- Carbon Revolution Ltd., an Australian manufacturer of carbon fiber wheels, is going public in the US by merging with a blank-check...

U.S. crypto broker Genesis says it is working to avoid bankruptcy filing
U.S. crypto broker Genesis says it is working to avoid bankruptcy filing
  • US
  • 2022-11-30 01:12:42Z

Citing people with knowledge of the situation, the report said law firms Proskauer Rose and Kirkland & Ellis are being consulted by creditor groups, who are ...

Sunshine Insurance Sets Terms for $948 Million IPO
Sunshine Insurance Sets Terms for $948 Million IPO

(Bloomberg) -- Chinese insurer Sunshine Insurance Group Co. is seeking to raise as much as HK$7.4 billion ($950 million) in its Hong Kong initial public...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business