By Will Feuer


FuboTV shares fell after ESPN, Fox and Warner Bros. Discovery said they are teaming up to create a sports-streaming service that will offer content from all major leagues.

FuboTV shares fell 11% to $2.24 in premarket trading. The stock was down about 7% over the past 12 months through Tuesday's close.

FuboTV is a sports-focused live-TV streaming platform. The package includes major leagues such as the NFL, NBA and MLB, as well as other sports including NASCAR, MLS, golf, tennis, boxing, MMA, soccer and others. Fubo also carries some entertainment networks.

The new sports-streaming service from ESPN, Fox and Warner Bros. Discovery would present fresh competition to Fubo and would aim to similarly draw hardcore sports fans. The as-yet-unnamed service will be offered directly to consumers, who would be able to stream all of these companies' sports content, the companies said in a statement, following a report in The Wall Street Journal about the new venture.

Each of the companies will have one-third ownership of the new service, which is expected to launch in the fall. The companies didn't announce pricing.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

02-07-24 0710ET