Watching your favorite sport is about to get a lot more expensive, one streamer is warning.
FuboTV (FUBO) has sued Disney (DIS), Warner Bros. Discovery (WBD), and Fox (FOXA, FOX) to block the three's planned sports streaming joint venture. Addressing this anti-trust suit, Fubo Co-founder and CEO David Gandler called this union of media giants a "sports cartel" aimed at stifling competition. Gandler sits down with Yahoo Finance Live to discuss how these media companies have "utilized pernicious MFNs [Most Favoured Nations clauses] to distort pricing," driving up Fubo's cost of operations and forcing it to bundle more of its content together. "This is almost borderline racketeering because what's happening in the industry is that the media companies are saying, 'look, if you want the full bundle, go get a paid TV subscription,' and at the same time, they're taking certain pieces of content out of the bundle to force the consumer to get that one extra game or two extra games to pay for another service," Gandler explains. "They're basically double paying in more than, I would say, 30 to 50% of cases for the same content. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
Following are the top stories in the Wall Street Journal. - Australia's Orica said on Wednesday it would acquire U.S. based sodium cyanide producer Cyanco from an affiliate of Cerberus Capital Management for $640 million. - FuboTV, a sports streaming service, filed a lawsuit seeking to block the joint venture among Fox Corp, Warner Bros. Discovery and ESPN parent Disney, alleging they wouldn't let Fubo carry a small bundle of sports-focused channels that they are now looking to include in the new service.