Local TV Stations Take a Hit as Disney and Warner Bros. Announce Sports Joint Venture

Wall Street Overreacts

So you know how Wall Street can sometimes lose its mind over the smallest things? Well this time they're at it again. Local TV station owners like Sinclair TEGNA and Scripps saw their valuations plummet after the big boys at Disney Warner Bros. Discovery and Fox announced a new sports joint venture. Apparently investors are losing their minds over a skinnier cable bundle that doesn't include CBS and NBC. But let me tell you something amigos Wall Street's reaction is way overblown. Trust me I've seen scarier things in my line of work.

The ABC and Fox Affiliates Are In

Now there's been a lot of chatter about whether local ABC and Fox affiliates would be left out of this new bundle. But let me assure you my friends they will be included. And how do I know this? Well I've had conversations with those Disney executives myself. You see Scripps owns a bunch of ABC and Fox stations so we're gonna get compensated for being carried along. It's like when someone messes with my business and I make sure they pay for it. Yeah it's gonna be just like that.

No CBS and NBC? No Problem

Now here's another thing that's got everyone in a tizzy. The new bundle won't have CBS and NBC. But you know what my friends? It ain't gonna matter. According to this Symson guy sports fans won't be satisfied with a partial offering. It's like going to a buffet where half the steam trays are missing. Who wants that? Not me and definitely not the sports nuts out there. So while the big boys at Paramount Global's CBS and Comcast's NBC may be left out it's not gonna be the end of the world. Trust me I know a thing or two about surviving tough situations.

The Value Question

Now let's talk about value. The executives behind this joint venture think it's gonna be a monster. But you know what? I don't buy it. Sure they may bundle it with existing streaming services like Disney+ Hulu and Max but is that really gonna attract a large audience? I mean even FuboTV another sports focused bundle hasn't reached 2 million subscribers yet. And they offer more sports than this new bundle. So if you're a true sports nut you're probably better off sticking with the good ol' pay TV bundle. It's tried and tested my friends.

Support for Broadcast Stations

Now here's something interesting. This new service could actually be supportive of broadcast stations like Scripps. If we're gonna be compensated for being on this platform just like we are on other platforms then it's potentially a good thing. It's just another product in a sea of products that are pretty much the same thing. So let's not get all worked up about it okay?

Disney CEO Bob Iger Speaks Out

But hey don't just take my word for it. Check out this interview with Disney CEO Bob Iger. He's got some things to say about the new streaming sports partnership. And trust me it's gonna be entertaining. Just like watching me take over the world in Scarface.