(AOF) – Walt Disney subsidiary ESPN is set to finalize a major partnership with sports betting company DraftKings, according to information reported by Bloomberg. This deal will allow the sports broadcaster to capitalize on the growing wave of legalized sports betting. DraftKings offered no comment to Reuters, but noted its “long-standing relationship with ESPN.”
Last August, Wall Street reported that ESPN was seeking to license its brand to major sports betting companies for at least $3 billion over several years to capitalize on the boom in the industry. .
Disney owns a 4% stake in DraftKings, which it acquired as part of the acquisition of the entertainment assets of Twenty-First Century Fox in March 2019.
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French players well positioned in audiovisual production
Among the independent players, the Frenchman Banijay is the world leader with an expected turnover of 3 billion euros in 2022 in a market which represents 100 billion in revenue. Mediawan (backed by the KKR fund), whose turnover amounts to 1 billion euros, is the other main French player in the sector. The market is still very fragmented because according to the European Audiovisual Observatory, the top twenty production groups were responsible for only 38% of titles created in 2020. However, experts believe that the sector has entered a phase consolidation. Thus Banijay’s stock market listing aims to enable it to better participate in this movement.