Advertisements for Disney, Warner Bros. Discovery Channel and Venu Sports, a sports streaming company owned by Fox, hang at the Fanatics Fest event in New York City on August 16, 2024.
Jessica Golden | CNBC
disney, fox and Warner Bros. Discovery The two companies said in a joint statement on Friday that they had scrapped plans to launch sports streaming service Venu.
“After careful consideration, we have collectively agreed to terminate the Venu Sports joint venture and no longer launch a streaming service,” they said in a statement. “In an ever-changing market, we believe the best approach is to focus on our existing products.” and distribution pipeline to meet the evolving needs of sports fans. We are proud of the work Venu has done to date and grateful that we will support them during this transition period.
Venu, first announced in February, aims to combine the live sports properties of Fox, WBD and Disney-owned ESPN. The platform was initially set to launch in September before the start of the NFL season, but was delayed by a legal challenge from streamer Fubo, which claimed the platform was anti-competitive.
This is breaking news. Please refresh for updates.
About The Author
