Disney, Fox And Warner Bros. Discovery Are A “Sports Cartel” Engaging In “Borderline Racketeering”, Fubo CEO David Gandler Charges: “This Is A Duel To The Death”
deadline.comFubo CEO David Gandler blasted a planned sports bundle backed by Disney, Fox and Warner Bros. Discovery, calling the companies a “sports cartel” engaging in “borderline racketeering.” The comments came during a conference call with Wall Street analysts to discuss fourth-quarter results.
Fubo posted strong numbers in the quarter, including 1.62 million paid subscribers, a 29% gain in revenue to $402 million. The company is not yet profitable, but narrowed its losses to $71 million from $96 million in the year-ago period.
Execs have pledged to be free cash flow positive by 2025. Fubo filed a lawsuit last month after the Disney/Fox/WBD joint venture was announced, so Gandler’s commentary was rooted in the language of the complaint.
He said the company would have been able to turn a profit in 2023 if not for “anti-competitive” practices by distributors, who he said had forced Fubo to pay higher rates to carry less-desirable programming in order to gain access to sports.
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