FOX - Arbitrator affirms Fox holds 10-year option to acquire stake in FanDuel

• An arbitrator in New York on Friday reaffirmed that Fox ( NASDAQ: FOX ) can purchase a sizable stake in FanDuel ( DUEL ) from a $20 billion overall valuation.
• Fox won the right to buy an 18.6% stake in sports betting company FanDuel Group from its parent company Flutter, but not at the valuation, according to Reuters report .
• If Fox exercise its option to take the stake, it would be at a price of at least $3.72 billion.
• The decision ends the more-than-yearlong lawsuit between the two companies over the valuation of FanDuel, one of the leading U.S. sports betting platforms alongside services from DraftKings, Caesars and MGM.
• Fox has a 10-year option to acquire the stake, which runs through December 2030.
• The arbitrator ruled that there would be a 5% annual escalator on its purchase price, meaning the current price of a deal would be $4.1 billion.

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