Disney is pouring $250 million into a fantasy sports site

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Disney is pouring $250 million into a fantasy sports site

Disney apparently doesn't think it's enough to offer sports coverage through ESPN... it wants to fuel your fantasy leagues, too. Wall Street Journal sources report that the House that Walt Built is investing $250 million into DraftKings, a fantasy sports website that lets you play for real cash. The deal is believed to be all about complementing ESPN's various platforms with ads and services that are both relevant and, of course, profitable. DraftKings is expected to spend $500 million on ESPN ads in the "coming years" -- that's a lot of money to reap from friendly rivalries and office pools. The pact wouldn't completely lock out competitors like the Comcast-backed FanDuel, but they'd undoubtedly be left reeling by losing exposure on one of the largest sports networks.

[Image credit: Christian Petersen/Getty Images]

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