There's big news from the sports entertainment world. Disney (NYSE: DIS), Warner Bros. Discovery (NASDAQ: WBD), and Fox (NASDAQ: FOX), three of the top players in linear TV, are teaming up to launch a new sports streaming service.

In a press release after hours on Tuesday, the media companies said they reached an understanding on principal terms to form a new joint venture for a streaming sports service, combining content from all major professional sports leagues and college sports.

It's unclear how much the new service would cost, but it would also offer subscribers to Disney+, Hulu, and Max the ability to bundle it with their existing subscriptions. The service would include content from networks such as ESPN and other ESPN channels, college sports networks such as SECN, ACCN, and BTN, as well as ABC, Fox, FS1, FS2, TNT, TBS, TruTV, and even ESPN+.

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Source Fool.com