After weeks of speculation, two leading daily fantasy sports (DFS) providers confirmed Friday their plans to combine operations, setting aside a bitter rivalry in the face of mounting legal and lobbying costs brought about by calls for increased oversight of their industry.
Terms of the agreement between DraftKings Inc. and FanDuel Inc. were not disclosed, but sources told ESPN that the deal is structured as a merger of equals between the two DFS powerhouses. The transaction, which presents an early antitrust test for the Trump administration, is expected to close in the second half of 2017.
