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The three media giants Disney (NYSE:DIS), Fox Corp (NASDAQ:FOX), and Warner Bros. Discovery Inc (NASDAQ:WBD) are reportedly considering a former Apple Inc (NASDAQ:AAPL) executive for the CEO position of their upcoming sports streaming service.
What Happened: The companies are reviewing potential CEO candidates for their new sports streaming service, which will offer all their live sports programming in a single package, reported The Wall Street Journal on Tuesday. The service is expected to launch later this year.
Pete Distad, a former top executive at Apple who previously led its video and sports businesses, is reportedly a leading candidate. He also served as a marketing and distribution executive for Hulu’s streaming service.
Disney, Fox, and Warner Bros. have yet to respond to the email queries requested by Benzinga.
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The companies are seeking an executive with experience in marketing subscription services and managing the challenges that come with them, such as customer turnover. Distad’s team at Apple was responsible for negotiating deals with leagues, including a $2.5 billion agreement with Major League Soccer in 2022.
The new streaming service will include 14 networks, including Disney’s ESPN and ABC networks, Warner’s TNT and TBS, and Fox’s broadcast and sports cable channels. It will feature sports like the NFL, NBA, MLB, college football and basketball, golf, and NASCAR.
Why It Matters: The new sports streaming service is the result of a joint venture between Disney, Fox, and Warner Bros. announced earlier this month. The service is expected to offer a comprehensive sports content lineup, potentially helping Disney recoup revenue lost to cord-cutters.
The joint venture is expected to help Disney collect revenue lost due to cord-cutting and is anticipated to offer an extensive lineup of sports content.
Meanwhile, the Super Bowl 2024, the most-watched TV event in history, was also the most-streamed Super Bowl ever, with a reported 123.4 million viewers. The event was broadcast on Paramount+, which experienced its highest postseason viewership since 1998.
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