By Alexandra Berzon, Dow Jones Newswires
The two leading fantasy sports companies are hammering out a merger deal, with DraftKings Inc. chief executive Jason Robins likely to stay on as CEO of the combined entity and rival FanDuel Inc. CEO Nigel Eccles serving as chairman, according to people familiar with the matter.
The companies have long been bitter rivals, but have been discussing a merger for months as their legal and regulatory problems have stacked up. Neither company has figured out how to be profitable, spending heavily on marketing and legal issues eating up revenue.