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CNBC's Julia Boorstin reports on the latest news from the sports streaming landscape.
Walt Disney Co (NYSE:DIS, ETR:WDP), Fox Corp (NASDAQ:FOXA) and Warner Bros Discovery Inc (NASDAQ:WBD, ETR:J5A) have come under fire from FuboTV after proposing a three-way sports streaming service earlier this month. Fubo, itself a sports streaming platform, said it had filed an antitrust lawsuit against the trio on Tuesday, arguing such a service would destroy competition and inflate prices.
CNBC's Julia Boorstin joins 'Closing Bell' to discuss FuboTV's lawsuit against ESPN, Warner Bros. and Fox over the three's joint sports streaming venture.
FuboTV filed a lawsuit against Disney, Warner Bros. and Fox Corporation on Tuesday in an effort to block the creation of a recently announced sports streaming service by the companies, alleging concerns of harm to competitors and that the companies wouldn't allow Fubo to have a small bundle of sports channels they will now include in the new service, multiple outlets reported.
FuboTV filed a lawsuit Tuesday to block a new sports-streaming joint venture scheduled to premiere this fall, claiming the ESPN-Warner Bros. Discovery-Fox juggernaut would squeeze Fubo's ability to carry a skinny bundle of sports-focused channels that the venture plans to include.
FuboTV sues Disney, Fox, Warner Bros. over sports joint venture
The lawsuit says the companies behind the planned platform have forced Fubo ‘to broadcast unwanted, expensive content.'
Mozelle Thompson, former FTC Commissioner under President Clinton, joins 'Squawk Box' to discuss the new sports streaming alliance between Disney's ESPN, Fox and Warner Bros. Discovery, whether the deal could face antitrust scrutiny from the government, the impact on sports leagues and consumers, and more.
The regulators will examine the terms of the deal when it is finalized, the report added.
Sports is still the top reason people say they're paying for cable, but soon they'll have an alternative. The planned streaming service from Walt Disney, Fox, and Warner Bros.