ESPN, Fox and Warner Bros. Discovery team up to launch sports super-streamer

ESPN, Fox, and Warner Bros. Discovery are collaborating to create a new streaming platform for sports, set to launch in fall.

This joint venture marks a significant shift from traditional TV to digital services and will feature a variety of sports, including NFL, NBA, MLB, NHL, FIFA World Cup, NASCAR, UFC, and PGA TOUR Golf.

While details on subscription costs and the platform's name remain undisclosed, they're expected to be revealed closer to the launch date.

Each of the three companies will hold a one-third stake in the platform. ESPN is also developing its own direct-to-consumer streaming service, while Warner Bros.

Discovery already offers sports on its Max platform. The announcement led to a slight increase in Warner Bros. Discovery and Fox Corp. stock values, although Disney's stock dipped by 1%.

Industry executives, including Disney's Bob Iger and Warner Bros. Discovery's David Zaslav, celebrate this as a groundbreaking shift and hint at a strategy to bundle offerings to take on dominant streams such as Netflix, Amazon, and Apple.

The move may speed up the decline in cable subscriptions as sports are a key factor keeping viewers tied to traditional TV packages.

The new streaming service will be managed independently and is the result of six-month discussions among the companies, excluding NBCUniversal and Paramount Global who already stream sports content on their platforms.