The unnamed streaming service being launched in a coalition featuring Warner Bros. Discovery, ESPN, and FOX got a big lift Friday as Pete Distad has been named CEO of the venture.
WBD announced the news earlier today, saying Distad would move on from his longtime post as an Apple exec to helm the new project. Before his time at Apple, Distad worked for Hulu, meaning he’s no stranger to the streaming landscape.
Distard will assume oversight of all aspects of the joint venture, including overall strategy, distribution, marketing, sales, and more. Pete Distad will report to the JV’s board of directors, which will include representatives selected by each of the three companies. He and his new management team will be based at the to-be-established offices of the joint venture in Los Angeles.
“This is an incredible opportunity to build and grow a differentiated product that will serve passionate sports fans in the US outside of the traditional pay TV bundle,” Distad said. “I’m excited to be able to pull together the industry-leading sports content portfolios from these three companies to deliver a new best-in-class service.”
One of the major questions surrounding this new service is who among the three companies would act as CEO. Luckily, no such power struggle emerged as an outside candidate (albeit one with previous Disney experience) assumed the role. Now it’s up to Distad to carefully construct his management team to avoid giving one company more power within the organization than the others.
“Pete is an accomplished innovator and leader who has extensive experience with launching and growing new video services,” ESPN, FOX, and Warner Bros. Discovery in a joint statement. “We are confident he and his team will build an extremely compelling, fan-focused product for our target market.”
