Dish Network reported second-quarter earnings Monday, recording $4.49 billion in revenue, up from the $3.19 billion reported the same time last year.

Net income increased from $452 million to $671 million in the three months ending June 30.

Despite an increase in revenue, the company lost 67,000 pay TV subscribers, though that’s fewer than the 230,000 lost in Q1. It also gained 65,000 Sling TV subscribers. 

Dish has had a roller coaster of a year.

• July: The network announced a $5 billion partnership with AT&T to replace T-Mobile as Dish Network’s primary connectivity provider.
• April: Dish sued Peloton, Lululemon, and ICON Health & Fitness, accusing the companies of using Dish’s patented technology which “allows Internet users to stream content across the world in real time.”
• September 2020: Dish and NFL Media announced a carriage agreement to add the NFL Network and NFL RedZone to its offerings. NFL Network is part of the $30-per-month Sling Blue Plan, and NFL RedZone is available as part of the “Sports Extra” add-on for $10.

Sinclair Broadcast Group announced Monday that it does not believe a carriage agreement with Dish will be reached before the expiration of its current deal on Aug. 16.

Without a deal, 112 Sinclair TV stations are expected to be dropped from Dish, including ABC, CBS, FOX, and NBC affiliates.

DraftKings entered into a definitive agreement on Monday to acquire Golden Nugget Online Gaming in an all-stock deal valued at roughly $1.56 billion. 

The acquisition will see the fantasy sports giant use Golden Nugget Online to expand its reach with a combined database of more than 5 million customers.

Golden Nugget is a subsidiary of Fertitta Entertainment, a conglomerate owned by billionaire restaurateur Tilman Fertitta. Its properties also include the Houston Rockets and Landry’s.

DraftKings generated $298 million in revenue in Q2 2021, a 297% increase compared to the same period a year prior.

The company has shown a willingness to spend to diversify its business.

• It purchased sports betting media network VSiN in March for $70 million.
• The same month, it agreed to a five-year partnership with UFC in a deal with more than $100 million. 
• It inked a $50 million deal in April with Meadowlark Media for Dan Le Batard’s radio show and podcast network
• The company is teaming up with sports bar chain Sports & Social to create co-branded dining establishments with a sports betting experience.  

DraftKings does not expect to be profitable in 2021, according to the company’s Q1 earnings call.

Editor’s Note: DraftKings is an FOS partner.

The first-ever Music City Grand Prix took place over the weekend, but it wasn’t the only IndyCar news making headlines.

On Sunday, McLaren Racing announced it has entered an agreement to acquire a 75% stake in the Arrow McLaren SP IndyCar team. Financial terms were not disclosed

McLaren entered a strategic partnership with the Arrow Schmidt Peterson Motorsports team last year after a 40-year hiatus from participating in the sport full-time. Pato O’Ward and Felix Rosenqvist make up the team’s roster.

McLaren has made several significant moves after facing financial issues last year.

• Last week, McLaren agreed to sell its Applied Technology division to Greybull Capital, reportedly in order to free up money for its supercar and motorsports divisions.
• In Q1, it completed a $261 million strategic investment in McLaren Racing to fully fund its teams through 2023.
• In June, the company announced it would compete in Extreme E, an electric vehicle racing series that tours remote locations.

McLaren also announced two funding rounds in July, one worth $760 million and the other worth $620 million.

Set to close by the end of the calendar year, the IndyCar deal will appoint a new board to govern the team, including team founder Sam Schmidt, co-owner Ric Peterson, and McLaren Racing chief executive Zak Brown.