Thursday, May 23, 2024
HomeSportsFox Is Cleared to Buy FanDuel Stake for About $3.7 Billion

Fox Is Cleared to Buy FanDuel Stake for About $3.7 Billion

FanDuel is the market-share leader in online sports betting in the U.S.
An arbitrator has ruled that Fox Corp. has the option to buy a stake in sports-betting operator FanDuel Group from parent company Flutter PLC for about $3.7 billion, the companies said Friday, settling a more than yearlong dispute over one of the biggest brands in U.S. online gambling.
Fox filed a lawsuit with Judicial Arbitration and Mediation Services in April 2021 against Flutter arguing that the gambling giant was demanding too high a price for an option to buy an 18.6% stake in FanDuel.

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