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Former Apple CEO to lead sports venture created by Disney, Fox, Warner Bros Discovery

The Warner Bros logo is visible at the Cannes Lions International Festival of Creativity in Cannes, France, June 22, 2022

March 15 (mod1s) - Former Apple executive Pete Distad will be the CEO of the sports streaming joint venture founded by Walt Disney (DIS.N), opens new tab, Warner Bros Discovery (WBD.O), opens new tab and Fox Corp (FOXA.O), opens new tab, the media firms announced on Friday. 

Distad worked at the iPhone manufacturer for over a decade and managed teams that introduced the Apple TV and the MLS Season Pass. He was also part of the team that established Hulu, where he worked six years.

He will now have management of all elements, including general strategy, distribution and marketing, of the yet-to-be-named sports streaming platform by the media groups. 

Distad will report to the joint venture's board, which will comprise members picked by each of the three corporations. 

The intentions for the sports-centric channel, which is seeking to gain younger viewers, were disclosed last month.

Fox CEO Lachlan Murdoch said earlier in March the business, slated to be launched this autumn, hopes to have 5 million customers in its first five years. 

The addressable market for the business is projected to be between 50 million and 60 million, Murdoch had stated, adding he does not have any worries about regulatory difficulties concerning the endeavor.


Source: https://www.reuters.com/

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