Warren, Sanders and Castro: Feds Should 'Closely Scrutinize' ESPN/WBD/Fox Streaming JV
Sens. Elizabeth Warren, D-Mass., and Bernie Sanders, I-Vt., and Rep. Joaquin Castro, D-Texas, are urging the FCC and DOJ Antitrust Division to “closely scrutinize” the Venu Sports streaming platform joint venture from Disney subsidiary ESPN, Fox and Warner Bros. Discovery…
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(see 2402070006). “This massive new sports streaming company would be poised to control more than 80% of nationally broadcast sports and more than half of all national sports content, putting it in a position to exercise monopoly power over televised sports,” the lawmakers said in an eight-page letter to DOJ Antitrust Chief Jonathan Kanter and FCC Chairwoman Jessica Rosenworcel released Wednesday. “The market power of [Venu's] three giant parent companies would enable it to discriminate against competitors and increase prices for consumers.” The streaming deal’s description as a joint venture “should not prevent antitrust and telecommunications regulators from giving it the scrutiny it deserves,” the lawmakers said: The FCC and DOJ Antitrust should “oppose it if it violates antitrust or telecommunications laws or regulations.” They suggested the FCC examine whether the Venu Sports proposal represents “a violation of the national ownership cap” given its “duty to prevent a single entity from reaching more than 39% of households, and its broader mandate to promote competition in the public interest.”