FTC moves to block FanDuel, DraftKings merger

The Federal Trade Commission yesterday announced it would take steps to block the merger of daily fantasy sports sites FanDuel and DraftKings.

The FTC plans to file a suit in conjunction with California and Washington, D.C.

Together, the two companies own 90 percent of the daily fantasy business, according to ESPN.

"The proposed merger would deprive customers of the substantial benefits of direct competition between DraftKings and FanDuel," said Tad Lipsky, acting director of the FTC's Bureau of Competition.

Read more from ESPN.