Daily fantasy sports firms FanDuel, DraftKings in merger talks: sources

The two largest daily fantasy sports companies, FanDuel Inc and DraftKings Inc, are in early-stage talks to merge, people familiar with the matter said on Monday, as the industry faces a crackdown by U.S. states over whether it runs illegal gambling. A deal could reduce legal costs for the two companies, which have had to defend themselves against the legal challenges as well as lobby for legislation to make the games legal in states that have declared them illegal gambling. Bernstein research estimated that 59 percent of total U.S. TV ad revenue growth in the third quarter of last year was from spending on daily fantasy football ads.

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