Venu Sports, the proposed virtual MVPD service from ESPN, FOX and Warner Bros., said the three companies. Discovery, will be discontinued, in what they called a collective decision not to proceed with the planned joint project.
The decision is effective immediately. The move is surprising as the deal announced earlier this week between Disney and Fubo appears to have paved the way for the launch of Venu. The debut of the sports streaming service has been delayed due to a lawsuit from Fubo.
“After careful consideration, we have collectively agreed to discontinue 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 evolving demands of sports fans by focusing on existing products and distribution channels. We are proud of the work done at Venu So far and grateful to the Venu employees, whom we will support during this transition period.
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