DraftKings Inc. is a leader in the growing digital sports-betting industry. Now, it is making a move to be a bigger player in the media sector.
The digital entertainment and gaming company agreed to pay at least $50 million over three years to distribute a popular sports and pop-culture podcast hosted by former ESPN host Dan Le Batard, people familiar with the matter said. DraftKings is looking to make money on the deal by selling advertising and sub-licensing the podcast to radio stations and other audio providers, other people said.
DraftKings is making a major push into the media business, wagering that radio shows and sports recaps will drive additional customers to its betting products. Last month, DraftKings said it reached a deal to acquire the Vegas Sports Information Network, a sports-betting media company with on-screen hosts like Brent Musburger, for an undisclosed amount.
This month, DraftKings said it hired Brian Angiolet, a former Verizon Communications Inc. executive, to set the strategy for its media business.
DraftKings Chief Business Officer Ezra Kucharz said in an interview that the company’s media push is focused on keeping sports fans engaged so they are more likely to use the company’s products.
