- Will Bring Together Sports Linear Networks and
Direct-to-Consumer Service ESPN+
- Offering to include NFL, NBA, WNBA, MLB, NHL, NASCAR,
College Sports, UFC, PGA TOUR Golf, Grand Slam Tennis, the FIFA
World Cup, Cycling and Much More
- The Service will be offered through a New Standalone App,
Built from the Ground Up, for the Passionate Sports Fan
ESPN, a subsidiary of The Walt Disney Company (NYSE: DIS), FOX
(Nasdaq: FOXA, FOX) and Warner Bros. Discovery (Nasdaq: WBD) have
reached an understanding on principal terms to form a new Joint
Venture (JV) to build an innovative new platform to house a
compelling streaming sports service. The platform brings together
the companies’ portfolios of sports networks, certain
direct-to-consumer (DTC) sports services and sports rights –
including content from all the major professional sports leagues
and college sports. The formation of the pay service is subject to
the negotiation of definitive agreements amongst the parties. The
offering, scheduled to launch in the fall of 2024, would be made
available directly to consumers via a new app. Subscribers would
also have the ability to bundle the product, including with
Disney+, Hulu and/or Max.
The platform would aggregate content to offer fans an extensive,
dynamic lineup of sports content, aiming to provide a new and
differentiated experience to serve sports fans, particularly those
outside of the traditional pay TV bundle.
By subscribing to this focused, all-in-one premier sports
service, fans would have access to the linear sports networks
including ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, ABC, FOX, FS1,
FS2, BTN, TNT, TBS, truTV, as well as ESPN+.
Key Highlights:
- ESPN, FOX and Warner Bros. Discovery would form a new joint
venture to develop, launch and operate a streaming sports bundle of
linear networks and certain DTC sports content and services.
- Each entity would own one-third of the JV, have equal board
representation and license their sports content to the joint
venture on a non-exclusive basis.
- The service would have a new brand with an independent
management team.
Bob Iger, Chief Executive Officer of The Walt Disney Company
said, “The launch of this new streaming sports service is a
significant moment for Disney and ESPN, a major win for sports
fans, and an important step forward for the media business. This
means the full suite of ESPN channels will be available to
consumers alongside the sports programming of other industry
leaders as part of a differentiated sports-centric service. I’m
grateful to Jimmy Pitaro and the team at ESPN, who are at the
forefront of innovating on behalf of consumers to create new
offerings with more choice and greater value.”
Lachlan Murdoch, Executive Chair and Chief Executive Officer of
FOX said, “We’re pumped to bring the FOX Sports portfolio to this
new and exciting platform. We believe the service will provide
passionate fans outside of the traditional bundle an array of
amazing sports content all in one place.”
David Zaslav, Chief Executive Officer of Warner Bros. Discovery,
said “At WBD, our ambition is always to connect our leading content
and brands with as many viewers as possible, and this exciting
joint venture and the unparalleled combination of marquee sports
rights and access to the greatest sporting events in the world
allows us to do just that. This new sports service exemplifies our
ability as an industry to drive innovation and provide consumers
with more choice, enjoyment and value and we’re thrilled to deliver
it to sports fans.”
More details, including pricing, will be announced at a later
date.
The new service will showcase thousands of high-profile sporting
events including:
PRO FOOTBALL
NFL | UFL
BASKETBALL
NBA | WNBA
BASEBALL
MLB
HOCKEY
NHL
COLLEGE SPORTS
Thousands of games and events,
multiple sports, across nearly two dozen conferences,
including:
ACC, Big 10, Big 12, Big East,
SEC | 40 NCAA Championship Events |
NCAA Men’s & Women’s
Basketball Tournaments |
The College Football
Playoff
GOLF
PGA Tour | PGA Championship |
The Masters | TGL
GRAND SLAM TENNIS
Wimbledon | US Open |
Australian Open
CYCLING
Giro d’Italia | UCI Mountain
Bike World Cup | Giro Donne
SOCCER
FIFA World Cup | U.S.
Soccer
NWSL | MLS | LALIGA |
Bundesliga | UEFA | CONCACAF
COMBAT SPORTS
UFC | Top Rank
AUTO
Formula 1 | NASCAR | 24 Hours
of Le Mans
FORWARD-LOOKING STATEMENTS
The Walt Disney Company
The terms “Company,” “we,” and “our” are used below to refer
collectively to The Walt Disney Company and the subsidiaries
through which its various businesses are actually conducted.
Certain statements and information in this communication may
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, including
statements regarding the Company’s expectations, beliefs, plans,
strategies, business or financial prospects or outlook, the
consummation of the joint venture, trends, drivers of demand,
products or service offerings (including nature, timing and
pricing), consumer sentiment or priorities; and other statements
that are not historical in nature. These statements are made on the
basis of the Company’s views and assumptions regarding future
events and business performance and plans as of the time the
statements are made. The Company does not undertake any obligation
to update these statements unless required by applicable laws or
regulations, and you should not place undue reliance on
forward-looking statements.
Actual results may differ materially from those expressed or
implied. Such differences may result from actions taken by the
Company, including restructuring or strategic initiatives or other
business decisions, as well as from developments beyond the
Company’s control, including: the occurrence of subsequent events;
deterioration in domestic or global economic conditions or failure
of conditions to improve as anticipated; deterioration in or
pressures from competitive conditions, including competition to
create or acquire content; competition for talent and competition
for advertising revenue; consumer preferences and acceptance of our
content, offerings, pricing model and price increases, and
corresponding subscriber additions and churn, and the market for
advertising sales on our direct-to-consumer services and linear
networks; health concerns and their impact on our businesses and
productions; international, political or military developments;
regulatory and legal developments; technological developments;
labor markets and activities, including work stoppages; adverse
weather conditions or natural disasters; and availability of
content. Such developments may further affect entertainment, travel
and leisure businesses generally and may, among other things,
affect (or further affect, as applicable): our operations, business
plans or profitability, including direct-to-consumer profitability;
our expected benefits from the potential joint venture with Fox and
Warners Bros. Discovery; demand for our products and services;
performance of the Company’s content; our ability to create or
obtain desirable content at or under the value we assign the
content; the advertising market for programming; income tax
expense; and performance of some or all Company businesses either
directly or through their impact on those who distribute our
products.
Additional factors are set forth in the Company’s Annual Report
on Form 10-K for the year ended September 30, 2023, including under
the captions “Risk Factors,” “Management’s Discussion and Analysis
of Financial Condition and Results of Operations,” and “Business,”
quarterly reports on Form 10-Q, including under the captions “Risk
Factors” and Management’s Discussion and Analysis of Financial
Condition and Results of Operations,” and subsequent filings with
the Securities and Exchange Commission.
Fox Corporation
The term “Company” is used below to refer collectively to Fox
Corporation and its consolidated subsidiaries.
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Words such as “may,” “will,” “should,” “likely,”
“anticipates,” “expects,” “intends,” “plans,” “projects,”
“believes,” “estimates,” “outlook” and similar expressions are used
to identify these forward-looking statements. These statements are
based on management’s current expectations and beliefs and are
subject to uncertainty and changes in circumstances. Actual results
may vary materially from those expressed or implied by the
statements in this press release due to changes in economic,
business, competitive, technological, strategic and/or regulatory
factors and other factors affecting the operation of the Company’s
businesses. More detailed information about these factors is
contained in the documents the Company has filed with or furnished
to the Securities and Exchange Commission (the “SEC”), including
the Company’s Annual Report on Form 10-K for the fiscal year ended
June 30, 2023 filed with the SEC on August 11, 2023, and subsequent
Quarterly Reports on Form 10-Q.
Statements in this press release speak only as of the date they
were made, and the Company undertakes no duty to update or release
any revisions to any forward-looking statement made in this press
release or to report any events or circumstances after the date of
this press release or to reflect the occurrence of unanticipated
events or to conform such statements to actual results or changes
in the Company’s expectations, except as required by law.
Warner Bros. Discovery
The terms “Warner Bros. Discovery,” “Company,” “we,” “us,” and
“our” are used below to refer collectively to Warner Bros.
Discovery, Inc. and its subsidiaries.
Information set forth in this communication contains certain
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on current expectations,
forecasts, and assumptions that involve risks and uncertainties and
on information available to Warner Bros. Discovery as of the date
hereof. Actual results could differ materially from those stated or
implied, including due to risks and uncertainties associated with
the Company’s business, which include the risk factors disclosed in
the Company's filings with the U.S. Securities and Exchange
Commission, including but not limited to the Company’s most recent
Annual Report on Form 10-K and reports on Form 10-Q and Form
8-K.
Forward-looking statements include statements regarding the
Company’s expectations, beliefs, intentions or strategies regarding
the future, and can be identified by forward-looking words such as
“anticipate,” “believe,” “could,” “continue,” “estimate,” “expect,”
“intend,” “may,” “should,” “will” and “would” or similar words.
Forward-looking statements include, without limitation, statements
regarding future financial and operating results, the Company’s
plans, objectives, expectations and intentions, assumptions,
projections or expectations regarding the potential joint venture
with Fox and ESPN, and other statements that are not historical
facts. Warner Bros. Discovery expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein to reflect any change in
the Company’s expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is
based.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240206387529/en/
ESPN: Katina Arnold katina.arnold@espn.com +1 860.912.6643
FOX: Brian Nick brian.nick@fox.com +1 310-369-3545
Warner Bros. Discovery / TNT Sports: Nate Smeltz
nate.smeltz@wbd.com +1 404.827.4786
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