Fox Corp. Executive Chairman Lachlan Murdoch told Wall Street analysts Tuesday that his company will launch a direct-to-consumer streaming product that will draw on its news and sports assets.

Fox Corp is launching a streaming service before the end of the year. Content will be drawn from Fox News and Fox Sports. The company says it is not trying to steal customers away from cable operators. The streaming space is about to get more crowded.

Fox Corp. expects to launch a new subscription-based streaming outlet by end of 2025, citing desire to reach younger consumers who don't have cable