Fubo, Dish, DirecTV Urge Congress to Hold Hearing on Future of Pay TV Competition [Yahoo! Finance]
Warner Bros. Discovery, Inc. - Series A (WBD)
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Source: Yahoo! Finance
The co-signers, which also include Newsmax, American Economic Liberties Project, Sports Fan Coalition, Open Markets Institute and the Electronic Frontier Foundation, argue that Fox, Disney and Warner Bros. Discovery's upcoming sports streaming joint venture raises “serious competition concerns that call for Congress's immediate oversight.” “In addition to controlling 80% of all national live sports broadcasts, the JV will control approximately 55% of all live sports (regional and national). We cannot think of any scenario in the history of the United States where consumer interests have been served when such an important industry – here, access to live sports – is effectively controlled by three programming giants which decided to combine forces instead of competing against each other,” the letter states. “Worse yet, these same programming giants enforce anticompetitive and inflationary contract restrictions on distributors that will insulate the JV's streaming service from head-to
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