Two US lawmakers raise concerns over Disney, Fox, Warner sports streaming venture [Reuters]
Warner Bros. Discovery, Inc. - Series A (WBD)
Company Research
Source: Reuters
April 16 (Reuters) - U.S. lawmakers Jerry Nadler and Joaquin Castro on Tuesday raised competition concerns over the sports streaming joint venture planned by Walt Disney (DIS.N) New Tab , opens new tab , Fox (FOXA.O) New Tab , opens new tab and Warner Bros Discovery (WBD.O) New Tab , opens new tab The congressmen questioned how the new offering would affect access, competition, and choice in the sports streaming market in a letter to the media companies' CEOs. "We are concerned that this consolidation will result in higher prices for consumers and less fair licensing terms for upstream sports leagues and downstream video distributors," they said in a letter addressed to Disney's Bob Iger, Fox's Lachlan Murdoch and Warner Bros' David Zaslav. They urged the companies to respond to their queries by April 30 and also send their responses to the Department of Justice (DoJ). In February, the three media companies had announced that they would launch a joint venture to start a
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