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AMC Entertainment (NYSE: AMC ) fans may still hope for a post-pandemic recovery for the movie theater chain, but streaming stocks better than AMC are likely the potentially more profitable wager. The reasons for this are twofold.
Pete Distad will run the yet-to be named new venture, which is expected to debut in the fall.
Former Apple executive Pete Distad will be the CEO of the sports streaming joint venture formed by Walt Disney , Warner Bros Discovery and Fox Corp , the media companies said on Friday.
The landscape for investing in media stocks has changed dramatically in recent years with significant entertainment company consolidations. Today, most of the major U.S. news channels belong to a handful of gargantuan corporate entities.
Fox Corp. COO John Nallen says the company is “much more focused on growing the business than we are on selling the business” despite accelerating pay-TV declines and other challenges.
In February, ESPN, Fox, and Warner Bros. announced plans to launch a sports streaming platform.
Fox, ESPN and Warner Bros. Discovery's sports streaming platform is expecting to rake in 5 million subscribers within its first five years when the joint venture launches in fall 2024.
The sports streaming venture formed by Walt Disney , Warner Bros Discovery and Fox Corp expects to have 5 million subscribers in its first five years, Fox CEO Lachlan Murdoch said on Monday.
The forthcoming sports streaming venture backed by Disney, Fox Corp. and Warner Bros. Discovery will reach 5 million subscribers in its first five years, according to a projection shared Monday by Fox CEO Lachlan Murdoch.
Fubo CEO David Gandler blasted a planned sports bundle backed by Disney, Fox and Warner Bros. Discovery, calling the companies a “sports cartel” engaging in “borderline racketeering.” The comments came during a conference call with Wall Street analysts to discuss fourth-quarter results. Fubo posted strong numbers in the quarter, including 1.