Times Might Need Athletic<\/span><\/h2>\nThe<\/i><\/span> Times<\/i><\/span> is focusing on digital and subscription-based offerings to stem declines in advertising revenue and print subscriptions. <\/span>The Athletic <\/i><\/span>helps with those objectives. It’s believed the acquisition will help the buyer reach its goal of 10 million digital subscribers earlier than previously expected.<\/span><\/p>\nShares of the newspaper publisher are off 5.52 percent over the past year, while the S&P 500 is higher by 25.39 percent over the same period<\/strong>.<\/span><\/p>\nFor DraftKings and FanDuel, both of which operate cost-intensive models with heavy marketing spending, missing out on <\/span>The Athletic<\/i><\/span> isn’t the worst thing. That’s because the media property is forecasting notch 2021 revenue of $77 million, with a cash burn rate of $35 million. At a time when Wall Street is scrutinizing sportsbook operators’ time lines to profitability, bringing another cash-burning enterprise into the fold might not be the best idea.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"DraftKings (NASDAQ:DKNG) and FanDuel are two of the most obvious rivals in the daily fantasy sports (DFS) and sports wagering industries. Both are missing out on a coveted media asset. The New York Times Co. (NYSE:NYT), owner of the eponymous newspaper, is reportedly acquiring The Athletic for $550 million. The Athletic is a subscription-based sports […]<\/p>\n","protected":false},"author":46,"featured_media":190685,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093],"tags":[],"acf":[],"yoast_head":"\n
DraftKings, FanDuel Won't Be Acquiring The Athletic<\/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