The rumor surrounding DraftKings 2020 attempt to acquire Bleacher Report isn't going away just yet. An article from The Information confirmed the gaming company approached WarnerMedia to purchase Bleacher Report in 2020 and was turned down.

A year can change a lot in these types of negotiations, especially in the situation WarnerMedia finds itself in. The $43 billion merger with Discovery has analysts wondering if they will divest their assets, with Bleacher Report being a prime candidate. Discovery's Group Nine Media has shown interest in Bleacher Report, according to The Information. 

DraftKings is a leading candidate to make a big move in this space for a couple of reasons. The first being strong cash flow. DraftKings is a debt-free company with over $1 billion on hand to go after any property. 

Number two is their recent tells in media. Over the past few months, DraftKings agreed on a $50 million deal with Meadowlark Media to air "The Dan Le Batard Show with Stugotz" on their new SlingTV channel. They also purchased VSiN or the Vegas Sports and Information Network. VSiN is a Las Vegas-based sports gambling media company that features names like Brent Musberger and former NFL general manager Michael Lombardi.

Analysts peg these moves as attempts to diversify the companies portfolio and help buoy a stock price that has suffered in recent months. The company tried to purchase The Action Network, and Bleacher Report seems like the next logical target.

Their rival in the space, Penn National Gaming, has taken a different approach by purchasing 36% of Barstool Sports. This built-in audience helps lessen one of the biggest headaches in today's growing sports gambling world: Marketing costs. Ad spending is a big reason why DraftKings still isn't profitable. A trend investors are banking on turning around very soon as more and more states allow their residents to make bets.