Disney, Fox, and Warner Bros. Discovery have scrapped their plans to create the bundled sports streaming service Venu Sports, which would show all their game telecasts and studio programs.
Venu Sports Streaming App Cancelled
This decision comes just a few days after Disney signed a deal to merge Hulu + Live TV with Fubo, the “sports-first” streamer who initially filed an antitrust lawsuit against the three companies to block Venu Sports from launching.
After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service.
In an ever-changing marketplace, we determined that it was best ot meet the evolving demands of sports fans by focusing on existing products and distribution channels. We are proud of the work that has been done on Venu to date and grateful to the Venu staff, whom we will support through this transition period.
Disney, Fox, and Warner Bros. Discovery in a joint statement
Venu Sports was initially planned as a standalone service that offered subscribers access to all sports offerings from ESPN, Warner, and Fox, encompassing 14 different TV networks, a library of documentaries, and other programs from the archives of ESPN, Fox Sports, and more.
Pricing was initially set at $42.99 per month, though some debated the service’s potential success without the NFL, which is distributed by Amazon, NBC, and CBS.
Fubo filed its antitrust lawsuit against the three companies in February 2024, citing that the proposed service violated antitrust law and “[stole] Fubo’s playbook.” CEO David Gandler also said that the trio of companies was a “sports cartel” that participated in “borderline racketeering.
A federal judge granted Fubo’s request to block Venu Sports in August 2024, but Disney, Fox, and Warner Bros. Discovery filed an appeal to the injunction in September.
Disney seemingly solved the issue by agreeing to purchase a 70% stake in Fubo, which will remain separate from Hulu + Live TV as a brand, and create a new “sports and broadcasting service” featuring Disney’s sports and broadcast networks. The deal is expected to close in 12-18 months.
Source: Variety
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