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FanDuel is on the brink of a TV branding deal with Diamond Sports Group, according to an unconfirmed Bloomberg report.

The multi-year deal will reportedly see FanDuel’s brand extended to 18 regional pay-TV networks.

The agreement would also involve FanDuel programming broadcast on the networks, although unnamed Bloomberg sources said the deal is yet to be finalised.

Currently known as Bally Sports, the networks operated by Diamond Sports Group have a current branding deal with FanDuel’s much smaller rival in the interactive space.

It is also the largest regional sports broadcaster in the US, and features many regional sports teams on its networks.

FanDuel, owned by Flutter, operates a sports betting themed network called FanDuel TV, which largely focuses on horse racing content.

The news follows Diamond Sports’ Chapter 11 bankruptcy in March 2023, which led to months of wrangling with its creditors.

These negotiations led to a major proposed re-organisation announced in February.

Under the plans, Diamond Sports aimed to exit the Bally’s branding deal that its Sinclair parent company penned with the operator in 2020.

Sinclair purchased the channels from Disney in 2019 for $9.2bn, but has suffered from the ongoing decline in cable TV.

US operator forays into sports broadcasting

Diamond Sports has a significant presence in sports broadcasting, featuring 12 MLB, 11 NHL and 15 NBA team partners.

As such, FanDuel could see its brand more closely associated with US sports following the deal.

This could ultimately boost FanDuel’s customer acquisition pipeline as the business continues its neck-and-neck contest with DraftKings for U.S. online sports betting leadership.

DraftKings also has a presence in broadcasting and streaming, a field it entered following its March 2021 VSiN acquisition.

Meanwhile, Penn Entertainment-operated ESPN Bet deepening integration with its namesake is part of the company’s bull thesis, according to some analysts.

Penn has leant heavily into media-led gaming in recent years through its acquisitions of theScore, Barstool Sports and its ESPN-licensing deal with Disney.

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