DraftKings Climbs After Latest Media Deal: Turner Sports - TheStreet

DraftKings Signs Latest Media Deal, With Turner Sports

DraftKings reached its latest partnership. The sports-gambling company will produce content for Turner Sports' telecasts and apps.
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Online gambling company DraftKings  (DKNG) - Get Report signed its latest media deal, a partnership with WarnerMedia's  (T) - Get Report Turner Sports division. 

Terms weren't disclosed.

The multiyear deal will see DraftKings provide sports-betting information and daily fantasy content across Turner Sports telecasts and Bleacher Report's digital channels as well as the B/R app. 

“Regulated betting is quickly becoming a fixture of modern sports entertainment, and this collaboration with Turner Sports further scales the reach of our products and content to engage fans,” Ezra Kucharz, chief business officer at DraftKings, said in a statement. 

The deal excludes National Basketball Association programming. 

The agreement includes integrations that will feature custom content segments, DraftKings' betting odds and daily fantasy statistics, original content, personalized automated alerts and editorial across the Turner Sports network.

“While this emerging industry continues to evolve, sports betting helps to drive engagement, increased time spent viewing and audience scale,” said Turner Sports Executive Vice President Will Funk.

DraftKings has had a busy few weeks, announcing multiple deals with the National Football League and media broadcast partners as the company looks to keep its market-share lead amid competition from rivals FanDuel and the Barstool Sports app.

Earlier this week DraftKings was the subject of at least four mostly bullish analyst notes as the company's brand presence is boosted by its pro league partnerships. 

Oppenheimer affirmed its outperform rating while raising its price target to $65 a share from $55. Deutsche Bank initiated DraftKings with a hold rating and $48 price target. 

Needham affirmed its buy rating and $70 price target, and Credit Suisse initiated coverage at outperform with a $76 price target. 

DraftKings shares at last check were off 2.3% to $46.46. Early in Thursday trading the stock was up 2%.