October 30, 2019 / 11:22 PM / a month ago

Diamond Eagle in talks to buy fantasy sports provider DraftKings: Bloomberg

FILE PHOTO: A DraftKings logo is displayed on a board inside of the DFS Players Conference in New York November 13, 2015. REUTERS/Lucas Jackson

(Reuters) - Diamond Eagle Acquisition Corp (DEAC.O), a special purpose acquisition company, is in advanced talks to buy fantasy sports provider DraftKings Inc, Bloomberg reported on Wednesday.

Diaomond Eagle is in exclusive negotiations with the Boston-based DraftKings and no transaction has been finalised, Bloomberg reported, citing sources familiar with the matter.

DraftKings may also consider raising capital in another funding round if a deal doesn’t go through, Bloomberg said.

“DraftKings speaks to a variety of companies regarding various matters in the normal course of business, and it is our general policy not to comment on the specifics of any of those discussions,” the company said in an emailed statement.

Diamond Eagle was not immediately available for a comment.

Diamond Eagle is a blank-check company founded by Hollywood producer Jeff Sagansky and actor Eli Baker in 2019.

Reporting by Ann Maria Shibu and Aakriti Bhalla in Bengaluru; Editing by Christian Schmollinger

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