Rival fantasy-sports companies DraftKings and FanDuel planned to merge last November, but that plan has now been nixed. In their statements about the cancellation of the merger, neither company mentioned the fact that the Federal Trade Commission filed an antitrust suit against the merger, but, in statements, the companies’ chief executives noted that the lawsuit would add cost, time and distractions to the proposed union. The companies both offer daily games that allow users to assemble virtual teams of real athletes. Continue reading DraftKings, FanDuel Cancel Merger In Face of FTC Lawsuit

Former rivals DraftKings and FanDuel announced they plan to merge their daily fantasy sports operations into one company, to be run by DraftKings CEO Jason Robins. FanDuel chief exec Nigel Eccles will become chairman. The board will include three directors each from DraftKings and FanDuel, plus an independent director, while headquarters will be divided between New York and Boston offices. The deal, which aims to increase innovation by freeing up money, is expected to close during the second half of next year. Continue reading Daily Fantasy Sports: FanDuel and DraftKings Agree to Merge

New York State attorney general Eric T. Schneiderman is on a mission to shut down daily fantasy sports websites FanDuel and DraftKings, calling them illegal. Most recently, he sought an injunction to prevent both companies from operating in the state. FanDuel says it will comply by temporarily banning New York consumers from playing. DraftKings, however, says it’s still open for business with New York clientele. Schneiderman is also focusing on other daily fantasy sports sites, subpoenaing Yahoo. Continue reading NY State Attorney General Goes After Fantasy Football Sites