📰 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. 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." The Verge reports: ESPN, Fox, and Warner Bros. Discovery first announced Venu last year, and it was supposed to launch in the fall of 2024. The service would've given viewers access to a swath of live games from the NFL, NBA, NHL, NCAA, and more from several linear channels, including ESPN, ABC, Fox, Fox Sports 1, Fox Sports 2, TNT, and others. 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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