The long-awaited streaming service Venu Sports is no longer happening, according to The Hollywood Reporter and others. The sports-focused streaming service was to be a joint offering by Disney, Warner Bros. Discovery and Fox. There was no concrete reason given, other than corporate-speak.
“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 companies wrote in a statement.
We assume this move will also involve some serious layoffs, as Venu has been percolating for a while. To that end, the companies said they 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.” There are no details as to what this support will entail.
Venu Sports, the proposed virtual MVPD service from ESPN, FOX & Warner Bros. Discovery, will be discontinued
— ESPN PR (@ESPNPR) January 10, 2025
The collective decision by the three companies not to move forward with the contemplated joint venture is effective immediately
More: https://t.co/Cvwv2h601G pic.twitter.com/lylDeHDy9p
The real reason for the shutdown is likely due to ongoing legal woes. Just as one threat disappeared this week, with Fubo dropping an antitrust lawsuit and joining forces with Disney, another popped up in its place. Days after Disney announced a deal to merge Hulu + Live TV with Fubo, a pair of satellite TV companies argued against lifting a pre-existing injunction that delayed the launch of Venu.
DirecTV and EchoStar suggested that Fubo and Disney’s newfound friendship doesn’t resolve alleged antitrust issues surrounding Venu Sports. DirecTV wrote to a judge, saying that the joint venture “restores an anticompetitive runway” for the companies “to control the future of the live pay TV market.” EchoStar wrote a similar letter.
An unnamed source familiar with Venu Sports told The Hollywood Reporter that the move to cancel the streaming service was made in the past few days and that the aforementioned legal snafu played a role.
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