Three major media companies in America are Walt Disney, FOX, and Warner Bros. Discovery. They announced the establishment of a joint venture company, with each holding equal shares, to provide live sports streaming services specifically in the United States. This service can be subscribed to separately through an app or bundled with existing cable streaming services.
This deal can be described as a sharing of broadcasting rights for live sports events, which each company owns, in order to maximize the benefits from broadcasting through various existing channels. It is possible that the number of viewers may decrease through different traditional channels. Therefore, creating a consortium is more favorable. Walt Disney’s main sports channel is ESPN, along with other channels within the network, including the primary television network ABC. FOX has its main television network 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 channels within the network to reach a wider audience, including services provided by other industry leaders. This is done to create a collaborative service with sports content at its core.
Examples of sports events in which all three companies hold broadcasting rights include American football NFL, basketball NBA and WNBA, baseball MLB, ice hockey NHL, golf PGA Tour, tennis Grand Slam, soccer FIFA World Cup, UFC, and Formula 1.
TLDR: Walt Disney, FOX, and Warner Bros. Discovery have formed a joint venture to provide live sports streaming services in the United States. This allows for a wider distribution of sports content, benefiting all three companies and providing viewers with a centralized sports content service.
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