The US Department of Justice plans to investigate the new streaming venture between Walt Disney Co., Fox Corp., and Warner Bros. Discovery Inc. amid concerns of potential harm to consumers, media competitors, and sports leagues.

The joint venture, which will be owned equally by the three companies, aims to combine content from Disney's ESPN and ABC networks, Fox, and Warner channels, including TNT and TBS, to offer consumers a comprehensive platform for accessing live sports content like never before. 

Walt Disney, Fox, and Warner Bros' Joint Venture

Citing sources familiar with the matter, Bloomberg reported that the Justice Department will thoroughly review the deal's terms when finalized. 

Earlier announcements revealed plans for the three media giants to introduce a joint venture to launch a new sports streaming service this autumn to attract more younger viewers.

The collaboration will bring together many professional and collegiate sports rights, encompassing leagues such as the National Football League, the National Basketball Association, Major League Baseball, the FIFA World Cup, and various college competitions.

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Potential Competition and Antitrust Issues

Seth Bloom, antitrust lawyer with Bloom Strategic Counsel in Washington and former general counsel of the Senate Antitrust Subcommittee, expressed concerns over potential competition and antitrust issues arising from the collaboration. 

He emphasized the significance of examining the competitive landscape, particularly when major players in online sports distribution unite to launch a new service.

"The DOJ would likely look at the competitive implications of that and whether other companies that wish to provide this service will be foreclosed from the market," Bloom told Reuters. 

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