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An advertisement for Venu Sports, the sports streaming company of Disney, Warner Bros. Discovery and Fox, is displayed at the Fanatics Fest event in New York City on August 16, 2024.
Jessica Golden | CNBC
disney, Fox and Warner Bros. Discovery have canceled plans to launch their Venu sports streaming service, the 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 streaming service,” they said in the statement. “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. We are proud of the work that has been done on Venu to date and grateful to Venu . staff, whom 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 by a legal challenge from streamer Fubo, which claimed the platform would be anti-competitive.
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