Horse Racing

Murdoch's News Corp-Fox reunion gambit comes as sports betting valuations tank

Summarized by: Live Sports Direct
 
Murdoch's News Corp-Fox reunion gambit comes as sports betting valuations tank

Rupert Murdoch wants to combine News Corp and Fox Corp to capitalize on sports betting. Wall Street is skeptical about the value of the business. The market for sports gambling is booming, but the pace of growth is slowing. The total wagers expected to reach $390 billion globally this year. FuboTV shuttered its sports TV service in October. Churchill Downs announced it would abandon online sports. Fox bought a 5% stake in Toronto online bookmaker the Stars Group in August. It is expected that consolidation is likely in the market.

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Lachlan Murdoch Wall Street Fox Bet Rupert Murdoch Fox Corp Stars Group
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