{"id":6865,"date":"2024-09-16T12:21:02","date_gmt":"2024-09-16T11:21:02","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=6865"},"modified":"2024-09-16T12:21:06","modified_gmt":"2024-09-16T11:21:06","slug":"fox-moves-to-secure-fanduel-stake-with-2b-price-cut","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/09\/16\/fox-moves-to-secure-fanduel-stake-with-2b-price-cut\/","title":{"rendered":"Fox Moves to Secure FanDuel Stake with $2B Price Cut"},"content":{"rendered":"\n

Fox Corporation<\/strong> is seeking to acquire a stake in FanDuel<\/strong> at a reduced price. The media giant plans to exercise an option to purchase a minority stake in FanDuel, which is valued at approximately $6.5 billion<\/strong> on the open market. <\/p>\n\n\n\n

As outlined in Fox\u2019s 2024 Annual Report, the company aims to activate its option for an 18.6% share<\/strong> at an estimated cost of $4.3 billion<\/strong>, well below market value. FanDuel, valued at $35 billion<\/strong> by Goldman Sachs<\/strong> analysts, is significantly ahead of its closest rival, DraftKings<\/strong>, with a market cap of $18.3 billion<\/strong> as of Sept. 12.<\/p>\n\n\n\n

Fox\u2019s option to acquire the stake stems from a partnership that began when Flutter Entertainment acquired The Stars Group in a $6 billion deal. The matter went to arbitration, which granted Fox a 10-year call option starting in 2020.<\/p>\n\n\n\n

Fox had previously agreed to buy the 18.6% stake for $3.7 billion<\/strong>, with a 5% annual price increase. However, to finalize the purchase, Fox must first register as a wagering operator in jurisdictions where FanDuel is licensed.<\/p>\n\n\n\n

\u201cWe\u2019ve begun the process with state regulators,\u201d said Fox CEO Lachlan Murdoch<\/strong> during the Goldman Sachs Communacopia and Technology Conference. \u201cTo fully monetize the option, we need to be licensed as a gaming operator, even with only 18.6% and so we\u2019ve started that process with state regulators to begin the gaming licensing approvals.\u201d<\/p>\n\n\n\n

Flutter generated $3.6 billion<\/strong> in revenue in Q2 2024, a 20% increase year-over-year. FanDuel made up $1.5 billion<\/strong> of that revenue during the quarter. By comparison, the sportsbook generated $1 billion<\/strong> in revenue in Q2 2023. FanDuel had the largest player base in the U.S. for sportsbooks in Q2 2024 with 3.5 million average monthly players.<\/p>\n\n\n\n

Flutter also owns gambling brands, Paddy Power, Betfair, and Sky Betting & Gaming<\/strong>.<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Fox Corporation is seeking to acquire a stake in FanDuel at a reduced price. The media giant plans to exercise an option to purchase a minority stake in FanDuel, which is valued at approximately $6.5 billion on the open market.  As outlined in Fox\u2019s 2024 Annual Report, the company aims to activate its option for […]<\/p>\n","protected":false},"author":7,"featured_media":6866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[4,5,1],"tags":[4147,875,385,868,9814,8604,9813,1590,1588,9812],"class_list":["post-6865","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-betting","category-gambling","category-news","tag-betfair","tag-draftkings","tag-fanduel","tag-flutter-entertainment","tag-fox-corporation","tag-goldman-sachs","tag-lachlan-murdoch","tag-paddy-power","tag-sky-betting-gaming","tag-the-stars-group"],"yoast_head":"\nFox Moves to Secure FanDuel Stake with $2B Price Cut - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2024\/09\/16\/fox-moves-to-secure-fanduel-stake-with-2b-price-cut\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fox Moves to Secure FanDuel Stake with $2B Price Cut - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Fox Corporation is seeking to acquire a stake in FanDuel at a reduced price. The media giant plans to exercise an option to purchase a minority stake in FanDuel, which is valued at approximately $6.5 billion on the open market.  As outlined in Fox\u2019s 2024 Annual Report, the company aims to activate its option for […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sbceurasia.com\/en\/2024\/09\/16\/fox-moves-to-secure-fanduel-stake-with-2b-price-cut\/\" \/>\n<meta property=\"og:site_name\" content=\"SBC EURASIA EN\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-16T11:21:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-09-16T11:21:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/09\/Stake-in-FanDuel-set-to-be-acquired-by-Fox-at-2B-discount.png\" \/>\n\t<meta property=\"og:image:width\" content=\"779\" \/>\n\t<meta property=\"og:image:height\" content=\"426\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"nika rostiashvili\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"nika rostiashvili\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/09\/16\/fox-moves-to-secure-fanduel-stake-with-2b-price-cut\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/09\/16\/fox-moves-to-secure-fanduel-stake-with-2b-price-cut\/\"},\"author\":{\"name\":\"nika rostiashvili\",\"@id\":\"https:\/\/sbceurasia.com\/en\/#\/schema\/person\/fe6263b3d6331caebf299a540ebfbdb0\"},\"headline\":\"Fox Moves to Secure FanDuel Stake with $2B Price Cut\",\"datePublished\":\"2024-09-16T11:21:02+00:00\",\"dateModified\":\"2024-09-16T11:21:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/09\/16\/fox-moves-to-secure-fanduel-stake-with-2b-price-cut\/\"},\"wordCount\":299,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/09\/16\/fox-moves-to-secure-fanduel-stake-with-2b-price-cut\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/resourcesen.sbceurasia.com\/sbccisen\/sites\/2\/2024\/09\/Stake-in-FanDuel-set-to-be-acquired-by-Fox-at-2B-discount.png\",\"keywords\":[\"Betfair\",\"DraftKings\",\"FanDuel\",\"Flutter Entertainment\",\"Fox Corporation\",\"Goldman Sachs\",\"Lachlan Murdoch\",\"Paddy Power\",\"Sky Betting & Gaming\",\"The Stars Group\"],\"articleSection\":[\"Betting\",\"Gambling\",\"News\"],\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/sbceurasia.com\/en\/2024\/09\/16\/fox-moves-to-secure-fanduel-stake-with-2b-price-cut\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sbceurasia.com\/en\/2024\/09\/16\/fox-moves-to-secure-fanduel-stake-with-2b-price-cut\/\",\"url\":\"https:\/\/sbceurasia.com\/en\/2024\/09\/16\/fox-moves-to-secure-fanduel-stake-with-2b-price-cut\/\",\"name\":\"Fox Moves to Secure FanDuel Stake with $2B Price Cut - 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