ESPN, FOX, & Warner Bros. Discovery to launch new sports streaming service

  • 7 months ago
TheStreet’s J.D. Durkin brings you the biggest news of the day, including the ongoing earnings parade and the launch of a new sports-centric streaming service.

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Sports
Transcript
00:00 I'm JD Durkin reporting from the floor of the New York Stock Exchange and here's a look
00:03 at what we are watching on the street today.
00:06 Investors are reacting to another batch of quarterly earnings.
00:09 Snap saw its stock take a nosedive in a big way after reporting weaker than expected revenue
00:14 while still issuing disappointing forecasts.
00:17 Ford on the other hand saw its stock pop after reporting a beat on earnings and issuing higher
00:22 than expected guidance.
00:24 Investors are looking ahead to earnings from PayPal and Disney both out after the bell
00:29 on Wednesday.
00:30 In other news, three of the biggest names in media are set to team up to create a sports
00:34 streaming mega-platform.
00:35 ESPN, Fox, and Warner Bros.
00:38 Discovery announced their plan to launch the new platform in the fall of 2024.
00:43 Each company will share one-third ownership in the project.
00:47 The service will include games from at least 15 networks and all four major sports leagues.
00:52 The list of channels includes the entire ESPN family of networks, TNT, TBS, as well as a
00:58 host of college conference networks, names like the ACC and the Big Ten.
01:03 Warner Bros.
01:04 Discovery CEO David Zaslav said, "This new sports service exemplifies our ability as
01:09 an industry to drive innovation and provide consumers with more choice, enjoyment, and
01:15 value and we're thrilled to deliver it to sports fans."
01:18 Subscribers will also have the option to bundle the new sports service with Disney+, Hulu,
01:23 and Max.
01:24 The name and price for the new platform has yet to be revealed.
01:28 That'll do it for your daily briefing.
01:29 From the floor of the New York Stock Exchange, I'm JD Durkin with the Street.
01:33 Thanks for watching.
01:34 Have a great day.
01:34 [BLANK_AUDIO]

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