DraftKings has raised more than $100M in a private investment round led by Dodgers co-Owner Todd Boehly's Eldridge Industries, and the infusion of cash "bolsters the company’s finances as it awaits federal review of its proposed merger" with rival FanDuel, according to a source cited by Curt Woodward of the BOSTON GLOBE. Eldridge Industries is a "media holding company whose properties include entertainment publications Billboard and The Hollywood Reporter." Boston-based DraftKings did not disclose the amount of the fundraising -- the investment was "first reported Thursday by Bloomberg." It is "unclear what DraftKings’ valuation is after the new investment." Just six months ago the company raised $150M from private investors, a deal that "put the value of the company" at around $1B. The DraftKings-FanDuel merger, expected to close this year, would "result in one company controlling" more than 90% of the market for daily fantasy sports. DraftKings has "now raised" more than $830M since its founding in '11 (BOSTON GLOBE, 3/10). In Boston, Jordan Graham notes DraftKings has "long been trying to add a content part to its business, including a website with daily fantasy sports articles and exploring a fantasy sports television station" (BOSTON HERALD, 3/10).
