Disney Owns 6% Of DraftKings Stock From FOX Acquisition

• The Walt Disney Company owns 6% of DraftKings stock after the company was listed on the NASDAQ exchange last week.
• DraftKings stock ticker for the NASDAQ is DKNG.
• Currently, DraftKings shares are going for $20.12 on the stock market.

ORLANDO — The daily fantasy sports (DFS) and legal sports betting giant DraftKings went public last week after merging with SBTech. The merged companies are now placed under the umbrella of Diamond Eagle Acquisitions. But another company owns a sizable share of the company: Disney.

The merger did not affect DraftKings operations or the companies mission but surprisingly the Walt Disney Company owns six percent of DraftKings stock according to recent filings with the Securities and Exchange Commission (SEC).

How Disney became An Investor In DraftKings

Last year, when Disney acquired 21st Century Fox they also received a huge stake in DraftKings that was owned by FOX. Not only did Fox own parts of DraftKings but they also had a 30% ownership stake in Hulu even though Disney already owned a separate share in the television streaming service.

However, concerning DraftKings, Disney is labeled as a passive investor meaning Disney will not have a role in the decision making of the company but will have a shareholder’s vote based on their Class A shares in the legal sports betting operator.

Furthermore, the Walt Disney Company has many of its subsidiaries listed on the filing including TWDC Enterprises 18 Corp., Disney Enterprises, Inc., TFCF Corporation, and TFCF Sports Enterprises LLC who are the direct holder of the Class A common stock on the 13G filing.

ESPN, which is also owned by Disney, already had an exclusive deal with DraftKings which made them the official DFS offering on their platform.

News tags: 21st Century Fox | Daily Fantasy Sports | Diamond Eagle Acquisitions | Disney | DraftKings | ESPN | Fox | Hulu | NASDAQ Exchange | Walt Disney Company