A joint statement from Disney, Fox, and Warner Bros. Discovery announced that they will discontinue Venu Sports, a highly anticipated mega sports streamer, due to antitrust concerns. The decision comes after the companies settled an antitrust lawsuit filed by Fubo TV, which was bought by Disney.
Venu had been delayed multiple times due to the initial antitrust issues but was still planned to be launched after the merger between Disney and Fubo. However, DirecTV and EchoStar opposed the idea that the dismissal of Fubo’s lawsuit would eliminate antitrust concerns created by the collaboration.
The announcement was made without warning, citing the need to focus on existing products and distribution channels to meet evolving demands from sports fans. Despite spending $400 million into Venu, Disney and its partners have decided to write it off as a cost.
Source: https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/venu-sports-has-left-the-building