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Fox and News Corp. Explore Merger, Eye Sports Betting

  • Fox and News Corp. have established committees to explore the potential merger.
  • Merging the companies would allow for streamlined content across news and sports.
Troy Taormina-USA TODAY Sports

Nearly a decade after a tumultuous breakup, Fox and News Corp. are considering a merger that could see the combined entity tap into the competitive sports betting market. 

Owned by Rupert Murdoch, the two entities split in 2013 following a phone-hacking scandal in the U.K. which exposed Fox and News Corp. to legal and financial risks. A restructure was also put in place as News Corp.’s extensive portfolio of newspapers struggled to remain profitable in the embattled print industry.

  • No deal is imminent, but Fox and News Corp. have established committees to explore the potential merger.
  • Merging the companies would allow for streamlined content across news and sports.
  • Costs saved from the merger could be invested in sports betting

Fox has already established a footprint in a U.S. sports betting market that saw more than $52.7 billion wagered throughout 2021, per data intelligence agency Morning Consult.

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In 2019, Fox partnered with FanDuel owner Flutter Entertainment after the latter bought The Stars Group, the online gambling company that created Fox Bet, for $6 billion. 

Ownership Dispute

Fox Bet has failed to gain traction in the U.S. betting market due to its poor reach and tech.

The failure to expand has caused a rift between Fox and Flutter over Fox Bet’s option to purchase 18.6% of FanDuel at an $11.2 billion valuation.