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ESPN Nears Large New Partnership With DraftKings

  • Shares of sports-betting firm rise as much as 8.8% on Friday
  • Media companies are looking to cash in on legalization
DraftKings Sinks On Share Sale And Virus Wreaking NFL Havoc
Photographer: Gabby Jones/Bloomberg
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Walt Disney Co.’s ESPN is nearing a large new partnership with sports-betting firm DraftKings Inc., according to people familiar with the matter.

The agreement would pave the way for the media giant to capitalize on the growing wave of legalized sports betting, according to the people, who asked not to be identified because the talks are private. The structure and details of the partnership couldn’t be immediately learned.