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DraftKings stock jumps on report of partnership with ESPN

10/6/22 7:12 PM ET (MarketWatch)Print

DraftKings 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., 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"

-Jeremy C. Owens

(END) Dow Jones Newswires