ESPN, Fox and Warner in US sports streaming tie-up

 ESPN, Fox Corp, and Warner Bros.,Discovery own FIFA World Cup, Formula 1, NFL, NBA, and MLB rights.

 The new app would offer "a new brand with an independent management team" for the service.

 Both corporations said they will control one-third of the joint venture and have equal board involvement.

 Multiple media providers are increasingly splitting payments from linear TV operators.

 The offering will combine sports linear networks and Disney's direct-to-consumer ESPN+, they said.

 The new partnership aims "to serve sports fans, particularly those outside of the traditional pay TV bundle".

 Subscribers could bundle the product with Disney+, Hulu, and Max.

 Walt Disney CEO Bob Iger termed the launch "a major win for sports fans, and an important step forward for the media business".

 Fox CEO Lachlan Murdoch said the service would deliver "an array of amazing sports content all in one place" and Warner Bros. 

 Discovery CEO David Zaslav said it "exemplifies our ability as an industry to drive innovation and provide consumers with more choice, enjoyment".

 Traditional media businesses have had to invest swiftly to compete with Netflix, Amazon Video, and Apple TV as streaming services have grown in popularity.

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