The most awaited is no longer happening, and others. The sports-focused streaming service will be a joint offering of Disney, Warner Bros. Discovery and Fox. No concrete reason was given, except in corporate-speak.
“In an ever-changing marketplace, we have determined that we can best meet the evolving needs of sports fans by focusing on existing products and distribution channels,” the companies wrote in a statement.
We assume this move will also involve some serious layoffs, as Venu has been around for a while. To that end, the companies said they are “proud of the work done at Venu to date and are grateful to the Venu staff, whom we will support during this transition.” There are no details on what this support will include.
The real reason for the closure is likely due to ongoing legal problems. Like a threat is gone this week, along with Fubo another emerged in its place. Days after Disney announced a deal to merge Hulu + Live TV with Fubo, a pair of satellite TV companies a pre-existing injunction that .
DirecTV and EchoStar suggested that Fubo and Disney's new friendship did not resolve the alleged antitrust issues surrounding Venu Sports. DirecTV wrote to a judge, saying the joint venture “restores an anticompetitive runway” for the companies “to control the future of the live pay TV market.” EchoStar wrote a similar letter.
An unnamed source familiar with Venu Sports said The Hollywood Reporter that the move to cancel the streaming service was made in the past few days and the aforementioned legal snafu played a role.
