DraftKings Reportedly Exploring Acquisition of Bleacher Report

Ryan Phillips
DraftKings Las Vegas Office Opening
DraftKings Las Vegas Office Opening / Denise Truscello/Getty Images

DraftKings is exploring an acquisition of Bleacher Report, according to Michael McCarthy of Front Office Sports. With sports betting poised to explode when sports return full-time, DraftKings is apparently attempting to increase its footprint in the market. A spokesman for Turner Sports told McCarthy Bleacher Report isn't for sale and the company has "zero interest" in selling it.

From McCarthy's article:

"DraftKings has explored potentially acquiring Bleacher Report, according to industry sources, the latest betting operation to look towards a sports publisher to expand its user base and digital footprint."

Obviously the reason for the purchase makes sense and it would make DraftKings the latest gambling outfit to invest in a sports media company. Recently, Penn National Gaming purchased a big stake in Barstool Sports for $163 million. Obviously this is a trend that makes sense for both gambling and sports media companies.

While this is interesting, it likely comes to nothing with Turner not looking to sell Bleacher Report:

"A Turner Sports spokesperson said: “Bleacher Report is not for sale and there is no truth to this misguided speculation.”"

So there's almost no chance this actually happens. Still, it shows that DraftKings is in the market to buy a sports property that could dramatically expand its user base. While it may not be able to acquire Bleacher Report, other partnerships or sales are likely out there.