The long awaited it doesn’t happen anymore, and others. The sports-focused streaming service was to be a joint offering from Disney, Warner Bros. Discovery and Fox. No concrete reason was given, other than corporate language.
“In an ever-changing market, we determined it was best to meet the changing demands of sports fans by focusing on existing products and distribution channels,” the companies wrote in a statement.
We assume the move will also lead to some serious layoffs, as Venu has been undercover for quite some time. To that end, the companies said they are “proud of the work that has been accomplished on Venu to date and grateful to Venu staff, whom we will support throughout this transition period.” There are no details on what this support will entail.
Venu Sports, the virtual MVPD service offered by ESPN, FOX and Warner Bros. Discovery, will be interrupted
The collective decision of the three companies not to proceed with the planned joint venture takes effect immediately
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—ESPNPR (@ESPNPR) January 10, 2025
The real reason for the closure is likely due to ongoing legal issues. Just like a threat disappeared this week, with Fubo another appeared in his place. Days after Disney announced a deal to merge Hulu + Live TV with Fubo, two satellite TV companies a pre-existing injunction which .
DirecTV and EchoStar have suggested that Fubo and Disney’s new friendship does not resolve the alleged antitrust issues surrounding Venu Sports. DirecTV wrote to a judge, saying the joint venture “reestablishes an anticompetitive avenue” for the companies to “control the future of the over-the-air pay TV market.” EchoStar wrote a similar letter.
An anonymous source close to Venu Sports said The Hollywood Reporter that the decision to cancel the streaming service was made in recent days and that the aforementioned legal snafu played a role.
