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Media Companies Scrap Venu Sports Before It Ever Launches

ESPN, Fox, and Warner Bros. Discovery announced today that it will not launch the Venu live sports streaming service. "After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service," the companies said in a joint statement....

"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. But then Venu 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.

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