Venu Sports, which brought together ESPN, FOX, and Warner Bros. Discovery for a joint sports streaming service is no more, the three entities said in a joint statement.
“In an ever-changing marketplace, we determined that it was best to meet the evolving demands of sports fans by focusing on existing products and distribution channels,” the statement read in part. “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.”
The Hollywood Reporter reported that early in 2024, the three companies announced Venu Sports anticipated to launch before the NFL season. The plan was to provide a litany of sports channels attributed to the brands involved. It would have operated like a vMVPD (virtual multichannel video programming distributor) where each streaming service would showcase the sports from their respective channels.
Shortly after the announcement, sports-focused streaming service Fubo filed a lawsuit against Venu Sports, accusing the companies of violating antitrust rules.
Venu made plans to launch the service for $42.99 per month, but U.S. District Judge Margaret Garnett issued an injunction to stop the launch pending a trial.
On Jan. 6, in a surprise deal, Disney announced that it was merging Hulu and Live TV with Fubo, creating the second-biggest streaming MVPD after YouTube TV. Although Disney would be the majority owner, it will be run by Fubo’s executive team. Fubo then stated it would end the antitrust case filed against the aforementioned companies.
According to Reuters, although Fubo withdrew
the lawsuit, two other parties, EchoStar (Dish) and DirecTV, sent letters to the federal district court judge on Jan. 10 to argue that Fubo’s withdrawing of the lawsuit still doesn’t solve the antitrust issues the former company brought to light.RELATED CONTENT: Rich Paul Discusses Challenges As A Black Sports Agent While Promoting New Memoir