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Fox wins right to buy a stake in FanDuel, but not at the price it wanted

Y2kTheNewOldies

Y2kTheNewOldies

www.cnbc.com

Fox wins right to buy a stake in FanDuel, but not at the price it wanted

The decision ends the lawsuit over the valuation of FanDuel, one of the leading U.S. sports betting platforms alongside services from DraftKings, Caesars and MGM.
www.cnbc.com www.cnbc.com

Fox won the right to buy an 18.6% stake in sports betting company FanDuel Group from its parent company Flutter, but not at the valuation, according to a ruling Friday from a New York arbitrator.

Should Fox exercise its option to take the stake, it would be at a price of at least $3.72 billion.




The decision ends the more-than-yearlong lawsuit between the two companies over the valuation of FanDuel, which has emerged as one of the leading U.S. sports betting platforms alongside services from DraftKings, Caesars and MGM.
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