Fox, Disney, Warner Bros. Discovery to create joint sports streaming platform
NY Post
Game on!
Fox, ESPN and Warner Bros. Discovery are joining forces to create a new streaming platform using their vast sports assets to compete with Amazon and Apple in a stunning move that changes the landscape for how fans watch their favorite teams.
The three media giants announced Tuesday that the yet-to-be named, stand-alone service will launch in the fall and be available to ESPN+, Hulu and Max subscribers.
Each company – which between them owns the rights to all the major sports leagues and the top college conferences – will own a third of the new service and their content will be licensed to it on a non-exclusive basis.
The move comes as the price of sports rights skyrocket and traditional media companies grapple with the migration of their last TV cash cow — which generates strong and steady viewership, and with it advertising dollars — to streaming giants vying to get a larger piece of the pie. Even Netflix recently signed a 10-year, $5 billion deal to be the exclusive home of World Wrestling Entertainment.
The three companies have been in talks for six months with the primary purpose of trying to lure back sports fans that have already cut the cord.
