Disney, Warner Bros. Discovery, and Fox Pull the Plug on Venu Sports
Just days after Disney announced that it was buying a controlling stake in Fubo TV, the company and its joint venture partners Warner Bros. Discovery and Fox have announced that they will not proceed with the launch of Venu Sports.
Initially announced in February 2024, Venu was to be a joint venture that would combine the biggest sports networks into one streaming service.
ESPN
The streamer was set to include Disney-owned ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, and the ABC broadcast network. Warner Bros. Discovery, meanwhile, would contribute to TNT, TBS, and TruTV, while Fox would offer FS1, FS2, and the Big Ten Network.
The Launch of Venu Was Blocked
Shortly after the new streaming service was announced, however, Fubo filed an antitrust lawsuit, arguing that Venu would create a monopoly and that the joint venture partners would have an unfair advantage in the marketplace.
U.S. District Judge Margaret Garnett sided with Fubo and granted a temporary injunction that blocked Venu’s launch.
Photo: Fubo
Over the next several months, the battle between the joint venture partners and Fubo played out in court.
Disney Purchased a Controlling Stake in Fubo Earlier This Week
Earlier this week, Disney announced that it had reached an agreement with Fubo that would merge the streaming service with Hulu + Live TV. Under the new agreement, Disney acquired a 70% stake in Fubo, which will now launch its own new sports and broadcasting service.
Photo: Deadline
As we wrote at the time, the Disney-Fubo deal was likely the final nail in Venu’s coffin. With Disney now able to offer a similar sports-centric package through Fubo, it made little sense to launch Venu.
A Changing Media Environment
The media landscape has radically changed since the streaming service was originally announced. With ESPN Flagship set to launch this year and Warner Bros. Discovery no longer having NBA rights, the benefits of Venu had begun to diminish.
Photo: Venu
Additionally, while the joint venture partners had settled their battle with Fubo, another legal challenge was likely on the horizon.
“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 to meet the evolving demands of sports fans by focusing on existing products and distribution channels,” the joint venture partners said in a statement.
Photo: Disney
“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.”
Thus ends the saga of Venu Sports.
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