Daily fantasy sports companies DraftKings and FanDuel have agreed to merge after months of discussions, it was announced announced on Friday.
Under the merge, DraftKings co-founder Jason Robins will be named the chief executive officer of the combined firm. FanDuel co-founder Nigel Eccles will serve as chairman of the board, which will comprise of three members from each company. A seventh independent member will be named to the board.
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ESPN’s David Purdum reports both sites will continue to operate under separate brands for the time being.
The deal will is pending approval from the Federal Trade Commission, but FanDuel attorney Scott Sher doesn’t foresee a problem, according to the Wall Street Journal.