An announcement of Venu Sports, the sports streaming venture of Disney and Warner Bros. Discovery and Fox, commentating at the Fanatics Fest event in New York City on August 16, 2024.
Jessica Golden | CNBC
disney, Fox and Warner Bros. Discovery They have canceled plans to launch their own sports streaming service, Venu, the two companies said in a joint statement on Friday.
“After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the live streaming service,” they said in the statement. “In an ever-changing market, we decided it was best to meet the evolving demands of sports fans by focusing on existing products and distribution channels. We are proud of the work that has been done at Venu to date and are grateful to the Venu employees who we will support during this transition period.”
Venu was first announced in February and was intended to combine the live sports assets of Disney-owned Fox, WBD and ESPN. It was initially scheduled to launch before the start of the NFL season in September, but was delayed in part due to a legal challenge from streaming company Fubo, which claimed the platform would be anticompetitive.
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