Disney, Fox, Warner Bros Discovery sports-streaming venture named Venu Sports


FILE PHOTO: A martphone with displayed "Disney" logo is seen in front of displayed "Streaming service" words in this illustration taken March 24, 2020. REUTERS/Dado Ruvic/File Photo

(Reuters) - The sports-streaming service set to be launched by Walt Disney Co, Warner Bros Discovery and Fox Corp will be called Venu Sports and is on track for launch this fall, Pete Distad, the venture's CEO, said on Thursday.

Announced in February, the service will try to woo younger viewers who are not tuned in to cable TV with a bundled offering of the companies' broad portfolio of professional and collegiate sports rights, including the National Football League, the National Basketball Association and FIFA World Cup.

Venu Sports will be available directly through a new app and subscribers can opt to bundle the service with Disney+, Hulu or Max.

The joint venture still requires regulatory approval and the finalization of definitive agreements amongst the companies.

Fox CEO Lachlan Murdoch said in March that the venture was expected to have 5 million subscribers in its first five years.

The addressable market for the venture is expected to be between 50 million and 60 million, Murdoch had said, adding he did not have any concerns about regulatory hurdles about the venture.

(Reporting by Harshita Mary Varghese; Editing by Anil D'Silva)

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