Venu Sports Joint Venture Scrapped By Partners

Venu Sports, the proposed virtual MVPD service from ESPN, FOX and Warner Bros. Discovery, will be discontinued, the three companies said in what they called a collective decision not to move forward with the contemplated joint venture.

The decision is effective immediately. The move is surprise as a deal announced earlier this week between Disney and Fubo appeared to have paved the way for Venu to launch. The debut of the sports streaming service had been delayed by a Fubo lawsuit.

“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.”

MORe