Lawsuit to Halt New Sports-Streaming Giant
FuboTV has taken legal action by filing a lawsuit to block the launch of a new sports-streaming joint venture. The lawsuit, which was filed in the U.S. District Court for the Southern District of New York, targets media powerhouses including Walt Disney Co.’s ESPN, Fox Corp., and Warner Bros. Discovery Inc.
Allegations Against Industry Giants
The suit claims that the upcoming sports-streaming service, set to feature 14 networks including ESPN, ABC, TNT, TBS, and Fox channels, poses a threat to FuboTV. It alleges that these industry giants are wielding their influence over sports content to compel FuboTV to broadcast costly and unwanted material.
Impact on Internet-TV Bundles
The introduction of this new streaming service is expected to impact internet-TV bundles like Fubo and YouTube TV. While internet-TV bundles offer a more affordable alternative to traditional cable, the new service could come at a higher price point—potentially reaching $50 a month.
Stock Market Response
Since the announcement of the new joint venture, FuboTV’s stock has suffered significant losses, plummeting 37% for the year.
Unavailable for Comment
FuboTV, along with Disney, Warner Bros. Discovery, and Fox, were not able to provide immediate comments on the lawsuit.
