Fox has unveiled plans for a new streaming service to launch before the end of the year.
Fox has largely kept out of the streaming wars, but the new direct-to-consumers service is a challenge for Hulu and Netflix.
The new product is not intended to challenge Fox's place in the traditional TV bundle, said CEO Lachlan Murdoch on Tuesday.
Murdoch made the announcement for the company's quarterly call, but did not reveal many details.
“We are huge supporters of the traditional cable bundle, and we will always do that,” Murdoch told investors during the call.
“But having said that, we want to reach consumers wherever they are, and there is of course a large population that is now outside the traditional cable bundle.”
Murdoch said that FOX does not intend to convert traditional cable -TV customers into streaming subscribers of the new app.
The app will easily pack existing sports content and do not expect exclusive legal costs or extra incremental legal costs' Murdoch added.
Lachlan Murdoch (left) announced the new Fox Streaming Service on Tuesday
The move comes after Fox, known for his news and sports TV, dropped plans in addition to Warner Bros and Disney for a joint sports streaming app called Venu.
The three companies initially intended to bundle their sports content to the Joint Service.
However, the plans were affected by legal obstacles and eventually it was canceled.
After selling his entertainment activa to Disney in 2019, Fox focused on his sports and news content.
Large media companies have spent billions of dollars on sports media rights for their streaming platforms.
