ESPN, Fox, and Warner Bros. Discovery have announced their plans to collaborate on a joint sports streaming service, set to launch later this year. This exciting development will provide consumers with a fresh avenue to access marquee live sports content, marking the first time these prominent companies have joined forces in the streaming world.

The platform, which is yet to be named and priced, will be owned by a newly formed company with its own leadership team. Each of the three companies, Disney's ESPN, Fox, and Warner Bros. Discovery, will hold a one-third stake in the venture. Subscribers will be able to directly subscribe through a new app and even bundle the service with other popular streaming platforms, such as Disney+, Hulu, and Max.

Unlike traditional cable offerings, the forthcoming sports streaming service will be a streamlined bundle of linear networks specifically designed for sports enthusiasts. It will include all sports-centric broadcast and cable networks owned by Disney, Fox, and Warner Bros. Discovery. Notable channels from Disney's portfolio will be available, such as ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, and ABC. Warner Bros. Discovery will showcase TNT, TBS, and TruTV, while Fox will provide access to the Fox broadcast station, FS1, FS2, and BTN.

Disney CEO Bob Iger expressed his excitement over the launch, stating, "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." He emphasized that the service will offer consumers a diverse range of sports programming from industry leaders.

It's worth noting that the introduction of this joint streaming service will not hinder ESPN's plans to release a comprehensive direct-to-consumer streaming product. ESPN has been actively researching and aims to launch that product either this year or next year, according to sources familiar with the matter.

This collaboration comes at a time when sports media rights have become increasingly valuable, while viewers have shifted away from traditional cable. The partnership with the National Football League and the National Basketball League exemplifies Disney's efforts to revive its ESPN network and adapt to changing consumer preferences.

With the launch of this joint sports streaming service, ESPN, Fox, and Warner Bros. Discovery aim to offer fans an immersive sports-centric experience while solidifying their presence in the rapidly evolving media landscape. Stay tuned for further updates on this groundbreaking development.