Judge Blocks Venu Sports Venture by Disney-Fox-Warner, FuboTV Stock Rises 23%

Aug 16, 2024, 07:35 PM

A federal judge has temporarily blocked the launch of Venu Sports, a joint streaming venture by Disney, Fox, and Warner Bros. Discovery, following an antitrust lawsuit by FuboTV. The court found that FuboTV is likely to succeed in its claims that the venture would reduce competition and harm the future of live pay TV. The decision comes after a four-day hearing, with Judge Garnett issuing a preliminary injunction against the project. The streaming service was scheduled to launch on August 23 and was priced at $43 per month. FuboTV's stock surged by 23% following the ruling.