DraftKings and FanDuel Nix Plans to Merge
Fantasy sports companies call off merger after pressure from regulators.
The fantasy is over.
According to the Wall Street Journal, DraftKings and FanDuel, the once-bitter daily fantasy rivals who were set to merge, have called the whole thing off.
The breakup likely stems from an aggressive campaign against the merger by regulators (the Federal Trade Commission last month filed an antitrust suit, attempting to block the merger).
Just eight months ago the two companies announced their plans to merge. This was amidst rumors that the daily fantasy sports business was imploding.
If you’re unfamiliar with the daily fantasy crazy, RCL mapped it out in detail last year—and how it compares to those weekly fantasy matchups that pit you against your mother-in-law.
The daily fantasy craze stormed the fantasy world several years ago, and became a ubiquitous ad spot on shows like ESPN’s SportsCenter and other major sporting events.
Daily fantasy won some players a whole lot of money—but that didn’t come without its share of detractors—and quite a bit of controversy.
This article was featured in the InsideHook newsletter. Sign up now.
Suggested for you