By Will Feuer
FuboTV's shares experienced an 11% decline in premarket trading following the announcement that ESPN, Fox, and Warner Bros. Discovery are collaborating on a sports-streaming service that will provide content from all major leagues.
Fierce Competition Emerges
FuboTV is widely-known as a sports-focused live-TV streaming platform. Their package includes popular leagues such as the NFL, NBA, and MLB, along with other sports like NASCAR, MLS, golf, tennis, boxing, MMA, and soccer. Additionally, Fubo carries a selection of entertainment networks.
The new sports-streaming service from ESPN, Fox, and Warner Bros. Discovery poses a fresh challenge to FuboTV as it aims to attract avid sports fans. According to a statement released by the companies, the upcoming streaming service, which remains unnamed at this time, will be directly accessible to consumers who wish to enjoy the sports content provided by these three media giants. The Wall Street Journal initially reported on this exciting new venture.
Shared Ownership and Future Launch
The new service will have equal one-third ownership from each of the participating companies and is expected to launch in the fall. Pricing details have yet to be announced.
Contact Will Feuer through wsj.com