which was recently upped<\/a>, paves the way for it to eventually acquire half of TSG’s US business and up to 18.5 percent of FanDuel.<\/p>\n<\/div>\nThe TSG relationship comes by way of Fox shelling out $236 million last year to purchase five percent of the betting company. That’s prior to Flutter buying TSG for $12.2 billion in a deal creating the world’s largest online gaming entity.<\/p>\n
Sell The Network<\/h2>\n
Another catalyst for the Monday rally in Fox stock is Nathanson suggesting Fox should sell its network business as an avenue for increasing shareholder value.<\/p>\n
The analyst sees \u201cno material business logic for New Fox to hold onto the Fox Network, given the modest value the market is ascribing to the television segment and the core value it can fetch elsewhere.\u201d<\/strong><\/p>\n\u201cNew Fox\u201d is the result of last year’s $71.3 billion purchase by Walt Disney of the 21st<\/sup> Century Fox film and television assets, a deal that coincidentally included the transfer of a six percent stake in DraftKings to Disney.<\/p>\nFox invested $160 million in DraftKings in 2015 as daily fantasy sports (DFS) were taking off in the US. But that position was written down just a few months later, with the broadcaster citing concerns about DraftKings’ lofty private market valuations.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of broadcaster Fox Corp. (NASDAQ:FOXA) surged Monday after MoffettNathanson analyst Michael Nathanson said financial markets are overlooking the company’s increasing exposure to the burgeoning US sports betting industry. Nathanson reiterated a \u201cbuy\u201d rating on the name while lifting his price target to $36 from $34. That sparked a rally that has Fox stock higher […]<\/p>\n","protected":false},"author":46,"featured_media":145962,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\n
Fox Jumps as Analyst Says Sports Betting Exposure Deserves Credit<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n