Shares of the gaming company jumped more than 7% on the news.
Should you buy DKNG stock on the bounce?
Shares of the daily fantasy sports contest and betting operator DraftKings Inc. (NASDAQ:DKNG) on Monday gained 7.24% after news emerged that it showed interest in acquiring WarnerMedia’s sports media property, Bleacher Report. Reports also indicate that Discovery Communications Inc. (NASDAQ:DISCA) backed Group Nine Media had shown interest in the sports news platform.
Why DraftKings buying Bleacher Report is exciting
DraftKings’ interest in Bleacher Report may have seemed unrealistic last year, but things have since changed that could see a deal struck. Last week, AT&T Inc. (NYSE:T) announced that its subsidiary WarnerMedia will be merging with Discovery.
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