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Oct. 6, 2022, 7:12 p.m. EDT

DraftKings stock jumps on report of partnership with ESPN

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By Jeremy C. Owens

DraftKings /zigman2/quotes/213120645/composite DKNG -0.19% is close to signing an exclusive partnership with sports network ESPN, according to a report from The Action Network , sending shares 7.9% higher after hours. The terms of the deal between the sports-betting platform and sport-media giant are not yet clear. But The Action Network said that ESPN was seeking $3 billion over a set time period that would "lead to a sportsbook rebranding itself with the ESPN name." And it said an exclusive partnership could feature broadcasts integrated with betting odds. DraftKings, in a statement to the Action Network, didn't comment directly on any potential deal, while ESPN had no comment. Bob Chapek, Chief Executive of Walt Disney Co., /zigman2/quotes/203410047/composite DIS +0.85% ESPN's owner, recently said that Disney had been examining the possibility of adding sports gambling to ESPN, and said the growing popularity of sports betting helped make ESPN a "good long-term bet."

US : U.S.: Nasdaq
$ 15.49
-0.03 -0.19%
Volume: 12.10M
Dec. 2, 2022 4:00p
P/E Ratio
Dividend Yield
Market Cap
$13.04 billion
Rev. per Employee
$ 99.43
+0.84 +0.85%
Volume: 12.61M
Dec. 2, 2022 4:03p
P/E Ratio
Dividend Yield
Market Cap
$181.32 billion
Rev. per Employee

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