BOSTON — Federal regulators are challenging the planned merger of FanDuel and DraftKings, saying the combination of the two largest daily fantasy sports sites would create a company controlling more than 90 percent of the market.
The Federal Trade Commission announced Monday it will file a complaint — along with the attorneys general of California and the District of Columbia — seeking to temporarily stop the deal, pending an administrative trial scheduled for Nov. 21.
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Combining the onetime rivals would “deprive customers of the substantial benefits of direct competition,” said Tad Lipsky, acting director of the commission’s Bureau of Competition.
DraftKing’s Jason Robins and FanDuel’s Nigel Eccles, the CEOs of …read more
Source:: The Mercury News – Business