Long awaited doesn't happen anymore and others. The sports-focused streaming service was to be a joint offering between Disney, Warner Bros. Discovery and Fox. There was no specific reason other than corporate language.
“In an ever-changing marketplace, we have determined that we can best meet the evolving needs of sports fans by focusing on our existing products and distribution channels,” the companies said in a statement.
We assume this move will also entail some major layoffs as Venu has been leaking for a while now. To this end, the companies said they are “proud of the work done at Venu to date and grateful to the Venu employees we will support during this transition period.” There are no details yet on what this support will consist of.
Venu Sports, a virtual MVPD service offered by ESPN, FOX and Warner Bros. Discovery will be discontinued.
The collective decision of the three companies not to form the planned joint venture is effective immediately.
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— ESPN PR (@ESPNPR) January 10, 2025
The real reason for the closure is likely due to ongoing legal issues. One threat gone this week: Fubo another appeared in his place. Days after Disney announced a deal to merge Hulu + Live TV with Fubo, a pair of satellite TV companies. a pre-existing order that .
DirecTV and EchoStar suggested that Fubo and Disney's newfound friendship does not resolve the alleged antitrust issues surrounding Venu Sports. DirecTV wrote to the judge, saying the joint venture “reestablishes an anti-competitive runway” allowing the companies to “control the future of the live pay-TV market.” EchoStar wrote a similar letter.
This was reported by an unnamed source familiar with Venu Sports. Hollywood Reporter that the decision to cancel the streaming service was made in the last few days and that the aforementioned legal confusion played a role.