Advertisement for Venu Sports, a sports venture of Disney, Warner Bros. of Discovery and Fox, is hanging at the Fanatics Fest event in New York on August 16, 2024.
Jessica Golden | CNBC
Disney, Fox and Warner Bros Discovery have abandoned plans to launch their Venu sports streaming service, the companies announced in a joint statement on Friday.
“After careful consideration, we have collectively agreed to terminate the Venu Sports joint venture and not launch a streaming service. In an ever-changing market, we have decided that it is best to meet the growing demands of sports fans by focusing on existing products and distribution channels. We are proud of the work that has been done on Venu so far and we are grateful to the Venu staff, who we will support during this transition period,” they said in a statement.
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