DraftKings and FanDuel, the two dominant players in the daily fantasy sports industry, are finalizing terms of a merger, multiple sources with knowledge of the discussions told ESPN on Friday. The long-rumored deal was described as "imminent" and could be announced as early as this week, after details are finalized.
Prior media reports in recent weeks said the companies' merger was imminent, but sources told ESPN that the companies' financial settlements this week with the New York attorney general's office were a key obstacle that needed to be cleared. The sources said some of the major merger details discussed this week included the newly joined company's executive leadership, the name of the company, whether one site or two will be used, and where the company headquarters will be located. FanDuel has offices in New York and Scotland, and DraftKings is based in Boston. One highly placed source told ESPN that the recent merger discussions called for the two rivals to share roughly equally the revenue and expenses of the newly tied-in company.
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