Disney-Fox-WBD Sports Bundle Raises “More Questions Than Answers” For Nexstar Exec Mike Biard, But He Sees Upside If Venture Does “Actually Launch”

deadline.com:

Nexstar President and COO Mike Biard says there has been “significant misinterpretation and market overreaction” to the sports streaming bundle announced by Disney, Fox and Warner Bros.

Discovery. Speaking on the broadcast TV giant’s fourth-quarter earnings call with Wall Street analysts, Biard said the joint venture plan has raised “more questions than answers.” One question, he pointedly added, is “assurance that it will actually launch.” Biard spent 23 years as a Fox exec before joining Nexstar last summer.

Looking to clarify what CEO Perry Sook described as “noise” after the streaming JV news, Biard said, “To be clear, Nexstar will have the option of opting in to secure carriage and compensation for our ABC and Fox affiliated stations.

As such, this would be an additive incremental revenue stream for Nexstar.” Fox and ABC are among the 14 linear networks to be offered by the forthcoming service, with those broadcast networks carrying some of the most valuable properties, including the NFL playoffs, baseball’s World Series and the NBA Finals. “We believe the three JV partners understand the value of the linear ecosystem as pay-TV revenues remain vital to each of them,” Biard said.