Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

FanDuel, DraftKings Agree to Merge, Creating Daily Fantasy Titan

Nov. 18, 2016, 2:50 PM

FanDuel Inc. and DraftKings Inc. have agreed to merge after months of speculation, creating a company that would control more than 90 percent of the turbulent daily fantasy sports industry.

The deal raises potential antitrust concerns, and federal regulators will need to clear any tie-up. For customers, little will change until the merger closes, which could take more than a year. The valuation of the combined entity wasn’t disclosed.

DraftKings co-founder Jason Robins, who will be CEO of the new entity, and FanDuel co-founder Nigel Eccles, who will chair its board, described the agreement as a merger of ...