Last Updated on June 2, 2020
DraftKings is reportedly considering a major acquisition that would increase its scope and reach dramatically. On Tuesday, Michael McCarthy of Front Office Sports reported that DraftKings is exploring an acquisition of Bleacher Report, one of the largest and most influential digital publishers in the sports world.
Turner Sports — Bleacher Report’s parent company — said they have “no interest” in selling and DraftKings wouldn’t comment publicly on the matter.
Of course, it’s not hard to figure out why DraftKings would be interested in Bleacher Report. The sports betting industry is like a powder keg set to explode whenever live sports return. Adding a massive digital publisher like Bleacher Report would help DraftKings attract more users and take advantage of the coming boom.
To be clear, an acquisition of this size won’t happen overnight, but sports betting isn’t going anywhere anytime soon. As of May, sports betting is legal in 20 states and Washington D.C. with online sports betting being legal in nine of those states. The industry is going to continue to surge forward as legalization sweeps across the country.
DraftKings Exploring Acquisition Of Bleacher Report From Turner Sports https://t.co/KgDN6PKVPq
— Alfonso Straffon 🇨🇷🇺🇸🇲🇽 (@astraffon) May 27, 2020
DraftKings could be primed to take advantage of the precarious financial position that Turner parent AT&T finds itself in. AT&T has amassed nearly $150 billion worth of debt and will need to sell off assets in the very near future. As referenced earlier, Turner Sports categorically denied that it is looking to sell Bleacher Report, but money always speaks louder than words.
What would Bleacher Report’s coverage focus on if DraftKings is able to acquire it? Since Turner’s acquisition of DraftKings in 2012, the focus has been mostly on NBA and MLB, which makes sense considering Turner has massive television contracts with both leagues. Not to mention, Bleacher Report’s put an increased focus on golf recently.
It’s unclear if and how the sports betting giant would change the focus of Bleacher Report’s coverage. Whether or not DraftKings can make a legitimate play for Bleacher Report remains to be seen, but it’s clear that the sports betting operator is looking to make a splash in the digital publishing world sooner rather than later.