Disney, Fox, and Warner Bros. are being sued by FuboTV over their sports joint venture.

• According to a copy of the lawsuit obtained by CNBC, Disney, Fox, and Warner Bros. Discovery are being sued by FuboTV over their recently announced sports streaming joint venture.
• The joint venture is set to launch this fall, but there are still uncertainties about its details and framework.
• The U.S. sports-focused streaming market is facing "extreme suppression of competition," according to FuboTV.

The sports streaming platform is suing both companies for allegedly suppressing competition in the U.S. sports-focused streaming market, as stated in a copy of the lawsuit obtained by CNBC.

The upcoming joint venture aims to provide a new way for viewers to access marquee live sports this fall, but pricing and structure details are yet to be determined.

The complaint alleges that these competitors are working together to form a JV, which will negatively impact competition and consumers.

The lawsuit also names Disney-owned ESPN and Hulu as defendants.

FuboTV CEO David Gandler stated that these companies have been consistently engaging in anticompetitive practices to monopolize the market, stifle competition, and increase prices for subscribers. He believes that by reserving the rights to distribute a specialized live sports package, these corporations are erecting insurmountable barriers that will prevent new competitors from entering the market.

A spokesperson for the joint venture declined to comment.

Fubo claims that Disney, Fox, and Warner Bros., who dominate the live sports content market in the U.S., imposed bundling requirements and exorbitant licensing fees on Fubo, leading to inflated prices for consumers.

The lawsuit alleges that their new joint venture enables media companies to lower prices and evade restrictions on which channels they must carry, providing them with a competitive advantage.

Last week, CNBC's Alex Sherman reported that major distributors privately voiced concerns that the new skinny bundle from the joint venture would increase cable TV cancellations in the traditional pay-TV market.

At the time, MoffettNathanson analyst Craig Moffett predicted that antitrust challenges were probable.