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Disney, Fox, Warner Bros. Discovery Scrap $42.99 Venu Sports Streamer Amid Antitrust Challenges

Jan 10, 2025, 02:04 PM

Disney, Fox, and Warner Bros. Discovery have collectively decided to discontinue Venu Sports, their proposed joint sports streaming service priced at $42.99 per month, before its launch. The companies stated, "After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service." They added that it was best to meet the evolving demands of sports fans by focusing on existing products and distribution channels. Peter Distad, who was appointed CEO of Venu after previously overseeing Apple TV+'s global distribution, will no longer be leading the venture. The decision comes shortly after Disney agreed to acquire a stake in Fubo, incorporating its Hulu live-TV service into the platform and settling a lawsuit filed by Fubo against the Venu joint venture over antitrust concerns. Despite the settlement with Fubo, DirecTV and Dish Network expressed intentions to challenge the venture on antitrust grounds, sending letters to a federal judge urging reconsideration of prior rulings and indicating they were reviewing their options. Facing potential extended legal battles and antitrust scrutiny, the three media giants opted to abandon the Venu Sports project.