Walt Disney Co.’s ESPN is nearing a large new partnership with sports-betting firm DraftKings Inc., according to people familiar with the matter.
The agreement would pave the way for the media giant to capitalize on the growing wave of legalized sports betting, according to the people, who asked not to be identified because the talks are private. The structure and details of the partnership couldn’t be immediately learned.
DraftKings shares jumped as much as 14% in extended trading in New York. They had declined 42% this year through Thursday’s close, valuing the company at $7.2 billion. Disney was little changed in late trading.
