Ex-Apple exec Pete Distad named CEO of sports streaming venture

Former Apple executive Pete Distad will be the CEO of the sports streaming joint venture formed by Walt Disney,  Warner Bros Discovery and Fox Corp (FOXA.O), the media companies said on Friday.

Distad worked at the iPhone maker for about a decade and led teams that launched the Apple TV and the MLS Season Pass. He was also part of the team that launched Hulu, where he spent six years.

He will now assume oversight of all aspects, including overall strategy, distribution and marketing, of the yet-to-be-named sports streaming platform by the media firms.

Distad will report to the joint venture’s board, which will include representatives selected by each of the three companies.

The plans for the sports-centric service, which is hoping to get younger viewers, were announced last month.

Fox CEO Lachlan Murdoch said earlier in March the venture, set to be launched this fall, expects to have 5 million subscribers in its first five years.

The addressable market for the venture is expected to be between 50 million and 60 million, Murdoch had said, adding he does not have any concerns about regulatory hurdles about the venture. Reuters