Fox, ESPN, Warner Bros join hands to start new sports streaming platform

In a major move that will alter the way, three of the biggest media houses have announced a collaboration to create a new sports streaming platform, giving tough competition to Amazon and Apple, Fox News reported.

Fox, ESPN, and Warner Bros Discovery announced on Tuesday that the standalone streaming website will go live in the autumn and will be accessible to customers of ESPN+, Hulu, and Max.

One-third of the new venture will be owned by each company.

The decision comes in response to streaming giants competing for a bigger share of the sports rights market as conventional media businesses compete to get a larger viewership.

Recently, Netflix signed a 10-year, $5 billion deal to be the exclusive home of World Wrestling Entertainment (WWE).

For the last six months, the three firms have been in negotiations to lure back sports enthusiasts.

A vast amount of sports material, including that from Disney-owned networks like ABC, ESPN, ESPN2, ESPNU, SECN, BTN, ACCN, and ESPNEWS, will be available under one roof with the new service.

Fox and ESPN own the rights to the largest prize, National Football League (NFL) games, and Major League Baseball, as well as material from cable networks FS1 and FS2.

In addition to college basketball's March Madness, which is televised on TBS and TruTV, Warner Bros Discovery also owns the rights to European soccer competitions such as the Champions League, and provides National Basketball Association (NBA) and National Hockey League (NHL) content on TNT.

The networks also possess the rights to Formula 1, NASCAR, tennis, and golf.

The firms stated that pricing will be disclosed at a later time, although it is anticipated to be far less than the average cable sports bundle, which costs up to $100 per month.

Additionally, users will be able to combine the product with other subscription services like Disney+, Hulu, and Max.