No Equity Investment In ESPN, DraftKings Promo Deal
Law360, New York (June 24, 2015, 7:46 PM EDT) -- Daily fantasy sports company DraftKings Inc. has reached a promotional partnership with ESPN Inc. after the company had reportedly been in talks with ESPN parent Walt Disney Co. for an equity investment earlier this year.
DraftKings and ESPN said Wednesday the agreement makes DraftKings the “official fantasy sports offering” on ESPN’s platforms including promotional opportunities across ESPN’s platforms.
The deal comes after several reports in April that Disney was close to becoming an equity investor in DraftKings with a $250 million investment that would value the the Boston-based fantasy sports company at about $900 million.
It was not immediately clear what...
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