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Draft. Kings And Fan. Duel Scuttle Planned Merger. Daily fantasy giants Draft. Kings and Fan. Duel have reportedly been planning to merge for almost a year, a move which would have consolidated power such that around 9. The Federal Trade Commission opposed the merger on the grounds that it would represent a “near monopoly,” and this afternoon, the two companies called off the planned merger. Both companies announced the decision, and Draft.

Kings sent the following email to players: Today we formally terminated our merger with Fan. Duel and will withdraw litigation from the Federal Trade Commission (FTC). This means we will move forward as a separate company, which we believe is the best course in the interest of you - our customers and avid sports fans. We want to reassure you that you will not notice any changes to your account or your experience with us as a result of this decision. We will continue to offer best- in- class contests, prizes, and offerings to our players. Watch Now Is Good Online Hitfix. We will continue to focus our resources and expertise on enhancing our products and features so we can deliver the exceptional sports entertainment experience you have always had and love with Draft. Kings. Draft. Kings remains the preeminent platform in the daily fantasy sports industry.

Charlie Pierce on all this ESPN nonsense and newspapering and what not is so fantastic and I’m bitter we didn’t run it. Go check it out. [SI]. The best opinions, comments and analysis from The Telegraph. Watch the latest Featured Videos on CBSNews.com. View more videos on CBS News, featuring the latest in-depth coverage from our news team. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Daily fantasy giants DraftKings and FanDuel have reportedly been planning to merge for almost a year, a move which would have consolidated power such that around 90.

As a result, we are well- positioned to serve as a global hub linking fans to the sports, teams, players and game content they love. This is an exciting time to be a sports fan and daily fantasy player. As we gear up for another successful NFL season, we will continue to put you - the sports fan - at the center of everything we do. We are excited to make this football season the best one yet with new products, innovative features, and exciting contests ready to be rolled out soon. If you have any further questions about this announcement, please visit our dedicated frequently asked questions section on the Draft. Kings website. Thank you for your continued loyalty throughout this process. We have the best fans in the world and could not have done any of this without you.

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Once the FTC moved in, it was hard to see the merger being completed. The two companies have been beset with shared ethical scandals and complete control over the DFS market would have been an ethically dubious proposition in an environment with such a high risk for fraud. Someone close to the companies spoke to ESPN and spun the loss as a positive that will allow the two companies to focus on keeping their products legal as more states crack down: “If everyone is being honest with themselves, the merger was off the second the FTC’s decision was announced,” a source with close ties to the companies and CEOs told ESPN. Both companies can use the money that would have been spent on litigation on government affairs. I’m obviously biased, but I think it is a sign of their maturation. Rather than burn a pile of cash with little to show for it, use the money to continue to shore up any remaining concerns about legality in key states.”.