Streaming giants throw in the towel on joint sports-streaming venture
Disney, Fox, and Warner Bros. Discovery have scrapped plans to create a new joint sports-streaming service. The deal, announced last February, would’ve brought channels like ESPN, ABC, Fox, TNT, and TBS, along with live matches, all under a new service called Venu Sports.
The deal was blocked after the Justice Department backed a lawsuit from rival sports-streaming service, FuboTV, suggesting the deal was anti-competitive. The decision to abandon the joint venture comes shortly after Disney announced it would acquire Fubo on January 6 and add it to its Hulu Live TV service. Shares of FuboTV are up over 76% since a week ago.
The deal was blocked after the Justice Department backed a lawsuit from rival sports-streaming service, FuboTV, suggesting the deal was anti-competitive. The decision to abandon the joint venture comes shortly after Disney announced it would acquire Fubo on January 6 and add it to its Hulu Live TV service. Shares of FuboTV are up over 76% since a week ago.
