Fox Corp wins arbitration against Flutter; secures consent right on FanDuel IPO and retains 18.6% call option

Fox Corp

Arbitration ruling: Flutter cannot pursue FanDuel IPO without Fox's consent or arbitrator approval.
Fox retains 10-year call option to acquire 18.6% of FanDuel for $3.72B with 5% annual escalator, expiring Dec 2030.
Fox has no obligation to commit capital unless it exercises the option.

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