ESPN and Penn Entertainment End Sports-Betting Pact Early

ESPN and Penn Entertainment PENN 0.06%increase; green up pointing triangle are ending their sports-betting agreement early after failing to gain significant market share. The sports-media company will instead launch a new multiyear deal with industry leader DraftKings DKNG 2.74%increase; green up pointing triangle.

Disney’s ESPN says its agreement with Penn will end on Dec. 1, the same day that its DraftKings deal will begin. DraftKings betting, fantasy and other products will be integrated into ESPN’s stable of media properties.