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Fox ventures into U.S. online betting...

https://www.brisbanetimes.com.au/business/companies/lachlan-murdoch-s-fox-punts-on-us-sports-betting-revolution-20191006-p52y1s.html

 

"If approved, it will create the world's largest online gambling company – one that could pose a formidable threat to the dominant local player, ASX-listed Tabcorp."

 

 

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It's a smart move from a business standpoint - gambling revenue long-term is going to do a lot better than cable and retrans ever will, especially with sports betting now legal and in the mix. Lachlan's looking at the future and ensuring the leaner FOX has enough diversification in media to navigate murky waters ahead. 

 

Between this and the sale to Disney, I maintain my belief this is all part of a long-term strategy to build a war chest and buy NFL rights in totality when the media contract is up. Football is the only thing propping up broadcast TV right now, and having ownership stakes in the books taking the bets on the games that your media outlet owns the broadcast rights to may be the only way to make the whole model decently profitable after while.

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