Some of the world’s largest media companies are planning to partner on the creation of a new streaming platform for live sports.
Fox, Warner Bros. Discovery and Disney, which owns ESPN, are creating a service that will be available to ESPN+, Hulu and Max subscribers, the companies announced Tuesday.
Each company would own a third of the joint venture, according to a press release announcing the new service. The Wall Street Journal first reported the news.
The streaming sports service has yet to be named but news of its creation comes as each of the media conglomerates are set to release quarterly earnings this month.
Live sports remain one of the largest drivers of audience for major media companies, which have all made huge pushes into streaming in recent years.
Last month NBC, through a partnership with the NFL, broadcast the first streaming-only NFL playoff game, which reportedly sparked a boon in subscriptions to its streaming service Peacock.
Disney CEO Bob Iger has signaled he is looking for a strategic partner for ESPN and would entertain the idea of selling a majority stake in the company, the Journal reported, noting Disney has held talks with the NFL, NBA and NHL on potential partnerships.
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