Disney's ESPN, FOX, Warner Bros. Discovery To Launch Streaming Sports Service

(RTTNews) - Media companies ESPN, a subsidiary of Walt Disney Co., along with FOX Corp. and Warner Bros. Discovery are joining together to launch a streaming sports service in the United States in the fall of 2024.

The companies have reached an understanding on principal terms to form a new joint venture to provide sports content all in one place outside of the traditional bundle. They will develop, launch and operate a streaming sports bundle of linear networks and certain direct-to-consumer or DTC sports content and services.

In the JV, each entity would own one-third, have equal board representation and license their sports content to the JV on a non-exclusive basis. The service would have a new brand with an independent management team.

The companies said the offering would be made available directly to consumers through a new standalone app, built from the Ground Up. The formation of the pay service is subject to the negotiation of definitive agreements amongst the parties. Subscribers would also have the ability to bundle the product, including with Disney+, Hulu and/or Max.

The focused, all-in-one premier sports service would give fans access to the linear sports networks including ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, ABC, FOX, FS1, FS2, BTN, TNT, TBS, truTV, as well as ESPN+. The JV's platform would offer the companies' portfolios of sports networks, certain DTC sports services and sports rights. These would include content from all the major professional sports leagues and college sports.

The new service will showcase thousands of high-profile sporting events including: NFL, NBA, WNBA, MLB, NHL, NASCAR, College Sports, UFC, PGA TOUR Golf, Grand Slam Tennis, the FIFA World Cup, Cycling and much more.

Bob Iger, Chief Executive Officer of Walt Disney said, "The launch of this new streaming sports service is a significant moment for Disney and ESPN, a major win for sports fans, and an important step forward for the media business. This means the full suite of ESPN channels will be available to consumers alongside the sports programming of other industry leaders as part of a differentiated sports-centric service."