Turner Sports Plans New Streaming Service For 2018, With UEFA Soccer Leagues At The Center

Time Warner Inc.-owned Turner Sports is planning to launch a new sports streaming platform in 2018 the company said on Thursday. Turner acquired exclusive multi-platform rights to two of the world's premier soccer competitions, the UEFA Champions League and the UEFA Europa League. Those two competitions will be the foundation for Turner's direct-to-consumer streaming service. The three-year deal with UEFA, the governing body of European football, begins in 2018 with the launch of Turner's streaming service. Walt Disney Co.'s premier cable sports network ESPN also recently announced it will launch a streaming service in 2018. Turner President David Levy said the deal with UEFA and the coming streaming platform aligns with the broadcaster's strategy to expand the distribution of its content. Turner also plans to use Bleacher Report to offer access to live games, along with year-round clips and content to focus on reaching millennial audiences. Shares of Time Warner have gained 5.6% in the year to date, while the S&P 500 index is up 10.2%.