Three major media companies in the United States, Walt Disney, FOX, and Warner Bros. Discovery, announced the establishment of a joint venture with equal ownership stakes of 1 in 3. The purpose of this joint venture is to provide live streaming services for sports events, specifically in the United States. This service can be subscribed to separately through an app or bundled with existing cable streaming services offered by each company.
This deal can be seen as a sharing of broadcasting rights for sports events that each company owns, aiming to maximize the benefits of live streaming through various existing channels. By creating this collaboration, it is better than utilizing individual channels as the viewership may decrease. Walt Disney’s primary sports channel is ESPN, along with other channels within its network, including the main television station ABC. FOX has its main television station and sports channels such as FS1 and F2. Warner Bros. Discovery has sports channels like TNT and TBS.
Bob Iger, CEO of Walt Disney, explained that this deal is a significant step for the media industry, allowing all ESPN networks to reach a wider range of customers and extend their services to industry leaders. This collaboration aims to create a joint service centered around sports content.
Examples of sports events that all three companies have broadcasting rights to include the NFL, NBA and WNBA basketball, MLB baseball, NHL hockey, PGA Tour golf, Grand Slam tennis, FIFA World Cup, UFC, and F1.
TLDR: Walt Disney, FOX, and Warner Bros. Discovery have formed a joint venture to provide live streaming services for sports events in the United States. This collaboration allows the companies to share broadcasting rights and expand their reach to a wider audience. The joint service will include popular sports events such as NFL, NBA, MLB, and more.
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