Call it a Woesome Wednesday for broadcast television companies with publicly traded shares on the NYSE and Nasdaq markets. Upon learning of a joint venture proposal struck between The Walt Disney Co. owner ESPN, FOX Corporation and Warner Bros. Discovery to create a sports-focused subscription video-on-demand platform with a reported $40 per month fee, stock prices for some of the biggest over-the-air TV station ownership groups plummeted. Also impacted was the nation’s “sports first” virtual MVPD platform, FUBO.
Once the dust settled, FUBO and Gray Television released official statements designed to both calm shareholders and express their thoughts on the planned OTT platform. The two companies couldn’t be more divergent in their responses.
