Venu, the live sports streaming service from ESPN, Fox, and Warner Bros. Discovery, isn’t happening. In a statement on Friday, the three companies announced the decision “not to move forward with the contemplated joint venture.”
Here’s a joint statement from ESPN, Fox, and Warner Bros. Discovery:
After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service. In an ever-changing marketplace, we determined that 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 on Venu to date and grateful to the Venu staff, whom we will support through this transition period.
ESPN, Fox, and Warner Bros. Discovery first announced Venu last year, and it was supposed to launch in the fall of 2024. But then the service hit a legal roadblock: an antitrust lawsuit from the live TV streaming service Fubo, accusing the trio of engaging in “a years-long campaign to block Fubo’s innovative sports-first streaming business” due to restrictive sports licensing agreements. Lawmakers also asked regulators to investigate Venu and its potential to become a monopoly in televised sports.
Last August, a federal judge sided with Fubo and temporarily blocked Venu’s launch. Things seemed to settle last week when Disney agreed to merge Hulu + Live TV with Fubo, leading Fubo to drop its lawsuit. However, DirecTV and EchoStar, both of which raised concerns about the launch of Venu, weren’t happy about Fubo’s decision to settle.
Fubo declined to comment.
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