Disney, Fox, and Warner Bros. Discovery are teaming up to launch a sports streaming service.This isn't going to be second-tier content like on ESPN+. It's the big one.It could end up killing cable TV. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up”, you accept our Terms of Se ...

ESPN, Warner Bros, and Fox will launch a new streaming service for sports.It's set to launch this fall, but we still don't know how much it will cost.It's a huge deal — and could change everything about TV. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking “Sign Up”, you accept our Terms ...

Disney, Fox Sports and Warner Bros. Discovery are teaming up for a sports streaming venture set to launch by the end of the year. Details are still coming into focus about the service, which will pool resources among three of the biggest owners of sports rights. One aspect yet to be determined is how the new venture will affect linear broadcasts. NBCUniversal has recently experimented, with notable success, with streaming-only carriage of high-profile games. The Wall Street Journal had the first report of ...

BURBANK, Calif. & BRISTOL, Conn.--(BUSINESS WIRE)--ESPN, a subsidiary of The Walt Disney Company (NYSE: DIS), FOX (Nasdaq: FOXA, FOX) and Warner Bros. Discovery (Nasdaq: WBD) have reached an understanding on principal terms to form a new Joint Venture (JV) to build an innovative new platform to house a compelling streaming sports service. The platform brings together the companies’ portfolios of sports networks, certain direct-to-consumer (DTC) sports services and sports rights – including content from all ...

Fox, Walt Disney’s ESPN and Warner Bros. Discovery will build a sports streaming platform, the companies said in a statement on Tuesday.Fox, Walt Disney’s ESPN and Warner Bros. Discovery are building a sports streaming platform. USA TODAY Sports via Reuters Con The product will bring sports linear networks and Direct-to-Consumer ESPN+ together, the statement said.This is a developing story, please check back for updates. ...

ToplineDisney+ has begun informing its subscribers that they’ll no longer be able to share account passwords with others by March 14th, furthering a larger crackdown on password sharing from other streaming platforms such as Netflix and Hulu.Disney+ topped 150 million subscribers last quarter. (Photo Illustration by Thiago Prudêncio/SOPA ... [+] Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images Key FactsThe restriction applied for new subscribers as of Jan. 25 and goes into effect ...

Gina Carano as Cara Dune in the "The Mandalorian," a Star Wars series on Disney+.Elon Musk's company X is funding a new lawsuit filed by actor Gina Carano over her firing from the Disney+ streaming TV series "The Mandalorian" after she shared a controversial social media postCarano sued Disney and its Lucasfilm subsidiary in Los Angeles federal court over her termination from the "Star Wars" franchise series in February 2021.The suit, which alleges wrongful discharge and sex discrimination, seeks Carano's r ...

Walt Disney Co.’s DIS, +2.73% ESPN, Fox Corp. FOX, +0.55%, and Warner Bros. Discovery Inc. WBD, are teaming to create a joint streaming sports service, according to a Wall Street Journal report Tuesday. The as-yet unnamed service, which could be available as early as the fall and offer a sort of Hulu for sports, will be available to ESPN+, Hulu and Max subscribers. Each company will own one-third of the product, according to the report, citing people familiar with the matter.  ...

Activist investor Blackwells Capital has a solution for Walt Disney Co. and its chief executive Bob Iger to rev up sales: Split the company into three separate focused entities — sports, entertainment, and resorts. “Disney may simply be too complex for any one successor to Mr. Iger to manage holistically, and Blackwells believes that it is the responsibility of the Board to oversee these types of analyses in the ordinary course,” the investment firm said Tuesday in a proxy statement for Disney’s DIS, +1. ...

Financial Performance - Net income for the quarter ended December 30, 2023, was $2,151 million, compared to $1,361 million for the same period in 2022, representing a 58% increase[7] - Comprehensive income attributable to Disney for the quarter was $1,701 million, up from $920 million year-over-year, indicating an increase of 85%[7] - Cash provided by operations was $2,185 million, compared to a cash used in operations of $(974) million in the same quarter last year, indicating a turnaround in operational cash flow[11] - The company reported a net income before income taxes of $2,871 million, compared to $1,773 million in the prior year, reflecting a year-over-year increase of 62.2%[29] - Net income attributable to Disney increased to $1.9 billion, up 49% from $1.3 billion in the prior-year quarter[97] - Diluted earnings per share (EPS) attributable to Disney rose to $1.04, a 49% increase compared to $0.70 in the prior-year quarter[97] Assets and Liabilities - Total current assets decreased to $25,971 million from $32,763 million, a decline of approximately 21%[9] - Cash and cash equivalents dropped significantly from $14,182 million to $7,192 million, a decrease of about 49%[9] - Total assets decreased from $205,579 million to $197,774 million, reflecting a reduction of approximately 4%[9] - Current liabilities remained relatively stable at $31,033 million compared to $31,139 million in the previous quarter[9] - Total equity increased from $103,957 million to $105,501 million, showing a growth of about 1.5%[9] - The company reported a reduction of borrowings by $(309) million, down from $(1,000) million in the same quarter last year, indicating improved debt management[11] Revenue and Segment Performance - Total segment revenues for the quarter ended December 30, 2023, were $23,549 million, a slight increase from $23,512 million in the same quarter of 2022, representing a growth of 0.2%[25] - Segment operating income for the quarter was $3,876 million, up from $3,043 million year-over-year, indicating a significant increase of 27.5%[25] - The Entertainment segment generated revenues of $9,981 million, a decrease of 6.5% from $10,675 million in the prior year[25] - The Sports segment reported revenues of $4,835 million, an increase of 4.2% compared to $4,640 million in the same quarter of 2022[25] - The Experiences segment achieved revenues of $9,132 million, up 6.9% from $8,545 million year-over-year[25] Investments and Capital Expenditures - The company paid $8.6 billion to NBC Universal for the acquisition of its 33% interest in Hulu LLC, reflecting a significant investment in its streaming strategy[18] - Total investments in parks, resorts, and other property amounted to $1,299 million, an increase from $1,181 million in the prior-year quarter[198] - The company anticipates fiscal 2024 capital expenditures to reach approximately $6 billion, up from $5 billion in fiscal 2023[198] Cash Flow and Liquidity - Cash used in investing activities was $(1,246) million, slightly improved from $(1,292) million in the same quarter last year, indicating a more efficient investment approach[11] - Cash and cash equivalents at the end of the period were $7,247 million, down from $8,516 million at the end of the previous year, indicating a decrease in liquidity[11] - The company's cash and cash equivalents decreased by $6,988 million, compared to a decrease of $3,145 million in the prior-year quarter[191] Operating Expenses and Costs - Cost of services decreased by 6%, or $0.9 billion, to $13.9 billion, primarily due to lower programming and production costs[100] - Total programming and production costs decreased by 21% to $943 million, reflecting fewer hours of scripted programming[129] - Operating expenses for the Experiences segment increased by 8% to $4,480 million, primarily due to inflation and increased costs for new guest offerings[184] Shareholder Returns - A cash dividend of $0.30 per share, totaling $549 million, was declared on November 30, 2023, and a new share repurchase program targeting $3 billion in fiscal 2024 was authorized[64] Tax and Legal Matters - The effective income tax rate increased to 25.1% from 23.2% in the prior-year quarter due to adjustments related to prior years[105] - The company is currently involved in various legal actions, including a securities class action lawsuit, but cannot reasonably estimate the potential loss at this time[73] Other Financial Metrics - Interest expense for the quarter was $246 million, a decrease from $300 million in the same quarter of the previous year[29] - The company reported unrealized losses of $(277) million during the quarter ended December 30, 2023, compared to $(475) million for the same period in 2022[66] - The balance of accumulated other comprehensive income (loss) at December 30, 2023, was $(4,194) million, compared to $(5,484) million at December 31, 2022, showing an improvement[66]