Advertisement
Canada markets closed

  • S&P/TSX

    20,452.87
    +216.58 (+1.07%)
     

  • S&P 500

    4,594.63
    +26.83 (+0.59%)
     

  • DOW

    36,245.50
    +294.61 (+0.82%)
     

  • CAD/USD

    0.7410
    +0.0034 (+0.47%)
     

  • CRUDE OIL

    74.38
    -1.58 (-2.08%)
     

  • Bitcoin CAD

    52,310.22
    +1,170.88 (+2.29%)
     

  • CMC Crypto 200

    802.76
    +11.20 (+1.41%)
     

  • GOLD FUTURES

    2,091.70
    +34.50 (+1.68%)
     

  • RUSSELL 2000

    1,862.64
    +53.62 (+2.96%)
     

  • 10-Yr Bond

    4.2260
    -0.1260 (-2.90%)
     

  • NASDAQ

    14,305.03
    +78.81 (+0.55%)
     

  • VOLATILITY

    12.63
    -0.29 (-2.24%)
     

  • FTSE

    7,529.35
    +75.60 (+1.01%)
     

  • NIKKEI 225

    33,431.51
    -55.38 (-0.17%)
     

  • CAD/EUR

    0.6804
    +0.0034 (+0.50%)
     

Disney's ESPN nears large partnership deal with DraftKings - Bloomberg News

Reuters
·1 min read
ESPN logo and building are shown in down town Los Angeles, California,

(Reuters) - Walt Disney Co's ESPN is nearing a large new partnership deal with sports-betting firm DraftKings Inc, Bloomberg News reported on Thursday, citing people familiar with the matter.

The potential deal will allow the sports broadcaster to capitalize on the growing wave of legalized sports betting, according to the report, which did not give details of the financials or structure of the partnership.

Shares of DraftKings jumped 9% in extended trading on Thursday.

DraftKings declined Reuters request for comment, but pointed to its "long-standing standing relationship with ESPN".

ESPN did not immediately respond to Reuters query.

ESPN has been looking to license its brand to major sports-betting companies for at least $3 billion over several years to take advantage of the booming online betting industry, the Wall Street Journal had reported in August.

Disney holds a stake in DraftKings, which it acquired as part of its acquisition of Twenty-First Century Fox's entertainment assets in March 2019.

(Reporting by Yuvraj Malik in Bengaluru; Editing by Shailesh Kuber)