New York and Edinburgh-based fantasy sports firm FanDuel is in “advanced talks” to participate in a reverse merger with Platinum Eagle Acquisition Corp., a special purpose acquisition company formed earlier this year by veteran media executive Jeff Sagansky, according to Axios.com.

Axios reported that it’s unclear how much Platinum Eagle would pay or for what percentage of FanDuel.

“One source says to think about the Platinum Eagle deal more as a fundraise for FanDuel than as an exit for FanDuel investors,” said the Axios report.