The Disney+ website on a laptop computer in the Brooklyn borough of New York, US, on Monday, July 18, 2022.
Gabby Jones | Bloomberg | Getty Images
Walt Disney's ESPN, Fox And Warner Bros. Discovery are planning to launch a joint sports streaming service this fall, giving consumers access to major live sports in a new way for the first time, the companies said Tuesday.
The platform, which will be owned by a newly formed company with its own leadership team, does not yet have a name or price. Disney, Fox and Warner Bros. Discovery will each own a one-third stake.
Consumers could subscribe directly via a new app. Subscribers would also be able to bundle the product with the companies' streaming platforms Disney+, Hulu and Max.
The product will be a thinner bundle of linear networks than a standard cable offering, tailored specifically for sports fans. It will consist of all broadcast and cable networks owned by Disney, Fox and Warner Bros. Discovery and offering that sport, along with ESPN+.
From Disney, that includes ESPN and its sister networks, such as ESPN2, ESPNU, SECN, ACCN, ESPNEWS, as well as the ABC broadcast network. The Warner Bros. networks. Discovery that spotlight sports are TNT, TBS and TruTV. Fox will include the Fox channel along with FS1, FS2 and BTN.
“The launch of this new sports streaming service is a big moment for Disney and ESPN, a big win for sports fans and a significant step forward for the media industry,” Disney CEO Bob Iger said in a statement. “This means the full suite of ESPN channels will be available to consumers, alongside sports programming from other industry leaders, as part of a differentiated, sports-focused service.”
The product's launch won't stop ESPN from offering a full direct-to-consumer streaming product, which Disney is still exploring, according to a person familiar with the matter. ESPN has previously said it plans to release that product this year or next year.
The competitors expect to form the joint service at a time when the value of sports media rights is soaring, but viewers have shifted away from traditional cable viewing.
Disney in particular has suffered from a shift away from its ESPN Network and has sought new ways to revitalize the company, including seeking strategic partners such as the National Football League and the National Basketball League.
This is the latest news. Check back later for updates.