Reports surfacing that DraftKings, FanDuel close to merging
October 31, 2016 10:39 AM
by Robert Mann
Reports are surfacing that Daily Fantasy Sports (DFS) leaders DraftKings and FanDuel, are close to merging operations. The long-rumored deal was described as “imminent” and could be announced as early as this week, after details are finalized, according to ESPN.
A hold up in the alliance was said to be finalizing settlements with the New York attorney general’s office over false advertising claims against both companies. Now that the agreement with New York, resulting in stiff fines, is in place the proposed merger can move forward.
Sources tell ESPN that said some of the major merger details discussed this week include the newly joined company's executive leadership, the name of the company, whether one site or two will be used, and where the company headquarters will be located.
"As we have stated previously, a potential combination would be interesting to consider," a DraftKings spokesperson told ESPN. "However, as a matter of policy, we don't comment on rumors or speculation, and there can be no assurances at this time that any discussion about a combination would result in an agreement or merger."