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Disney's ESPN (DIS), Fox (FOX, FOXA), and Warner Bros. Discovery (WBD) have joined forces to launch a joint sports venture streaming service. On Friday, the companies announced Pete Distad, a former Apple (AAPL) and Hulu executive, would serve as the Chief Executive Officer of the upcoming service.

The highly anticipated streaming service is slated for launch in the fall, with Wall Street analysts estimating that the service could have a subscription fee ranging between $40 and $50 per month.

Yahoo Finance's Alexandra Canal breaks down the details.

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Editor's note: This article was written by Angel Smith