DraftKings and FanDuel merger spiked

The daily fantasy sports leaders won't merge after all due to major opposition from the Federal Trade Commission.

Terry Collins
Terry Collins Staff Reporter, CNET News
Terry writes about social networking giants and legal issues in Silicon Valley for CNET News. He joined CNET News from the Associated Press, where he spent the six years covering major breaking news in the San Francisco Bay Area. Before the AP, Terry worked at the Star Tribune in Minneapolis and the Kansas City Star. Terry's a native of Chicago.
DraftKings Inc. And FanDuel Inc. Applications As Ad Spending Increases

The proposed DraftKings and FanDuel merger is no more. 

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Fuhgetddaboudit: The proposed merger between DraftKings and FanDuel is off.

The top two daily fantasy sports sites spiked their much-discussed union after facing intense scrutiny from the Federal Trade Commission , the companies said Thursday.

In a brief joint statement, DraftKings CEO Jason Robins and Fanduel CEO Nigel Eccles said the government's opposition forced them to scrap the deal.

"We are disappointed by this decision and continue to believe that a merger is in the best interests of our players, our companies, our employees and the fantasy sports industry," the statement read. "We are considering all our options at this time."

The decision comes nearly a month after the FTC, along with the attorney general offices in California and the District of Columbia filed suit to block the merger. The two companies, which control over 90 percent of the US market, agreed to join forces in November.

It was thought that DraftKings' Robins would become CEO of the newly combined company, while FanDuel's Eccles would serve as chairman.

Not any more.