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DraftKings and FanDuel End Merger Talks Under FTC Pressure

July 13, 2017, 9:29 PM

DraftKings and FanDuel are calling it quits.

The two leading daily fantasy sports companies agreed to end their plans to merge in the face of opposition by the Federal Trade Commission, DraftKings chief executive Jason Robins said July 13.

The threat of a long and expensive legal battle was a factor, he said. He also noted that DraftKings is on firmer financial ground than it was when the merger was announced in November. The company has become the world’s leading daily fantasy sports site in recent months, according to legal filings. Robins also said the company’s revenue is up ...