Fox's FanDuel boon
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 5 January 2026
⏱️ 5 minutes
🧾️ Download transcript
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Show Notes
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis. |
| 0:09.7 | Good afternoon. Today is Monday, January 5th, and I'm your host, Kim Kahn. Our top story so far, is the Fox in the Flutter Henhouse? |
| 0:17.6 | Flutter Entertainment's fan duel is a juggernaut in U.S. sports betting, with market share |
| 0:21.8 | north of 30%. And that success could be a big plus for Fox, which holds the rights to acquire |
| 0:26.7 | an 18.6% stake. The right dates back to 2019 when Fox bought a 4.99% stake in the Stars group, |
| 0:34.9 | and launched Fox Bet, gaining options over Stars' U.S. betting business. |
| 0:39.0 | When Flutter later bought Stars and folded it into Fandul, Fox negotiated a 10-year call option on 18.6% of FanDuel, |
| 0:46.7 | struck off a $20 billion valuation with a 5% annual escalator and in all-cash all-and-nothing exercise requirement. |
| 0:54.0 | In effect, Fox's original |
| 0:55.3 | Star's investment became a long-dated call option on Fandul. CEO Lachlan Murdoch has said Fox |
| 1:00.9 | fully intends to use it. At a Goldman Sachs conference in 2024, he said Fox plans to exercise the |
| 1:06.8 | option and had begun working with regulators on licensing, implying a Fandul valuation of around |
| 1:12.2 | $35 billion. In 2025, he reiterated that Fox is very committed to Fandul and Flutter and is working |
| 1:19.1 | to become a licensed operator before the option expires in 2030. Analysts and investors generally see |
| 1:24.9 | the Fandul option as hidden asset, and a clear positive for Fox, |
| 1:29.2 | though opinions do differ on when Fox should pull the trigger. Among active stocks, Life MD and |
| 1:34.9 | Good R-X are higher after both companies added Novo Nordisk's Wagovi weight loss pill to their product |
| 1:40.4 | offerings. The news follows Novo's U.S. launch of the once-daily oral GLP1, the first and only |
| 1:46.4 | pill formulation, priced at $149 a month for cash-paying customers after FDA approval last month. |
| 1:53.5 | Samsung Electronics and SK-Hinix are reportedly looking to raise server memory prices by up to 70% |
| 1:59.1 | in Q1, as surging AI demand titans global supply. |
| 2:02.9 | Memory makers, including Samsung, SK-Hinix, and Micron, were already facing shortages of older |
... |
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