The service would launch with broadcasts for five MLB teams - the Royals, Rays, Brewers, Marlins, and Tigers.
Daily fantasy sports, gambling in states where it's legal, and other interactive games with cash prizes available will also be incorporated into the product.
The announcement follows news of plans by Sinclair, NBC Sports, and Marquee Sports Network to launch their own streaming services.
According to the New York Post, the Cubs and Sinclair are talking about a subscription costing $18 per month.
NBC has large markets in its RSN catalog with Boston, Chicago, Philadelphia, Washington D.C., and California's Bay Area.