In a joint statement released Friday, Disney, Fox, and Warner Bros. Discovery announced that they had canceled their plans to launch Venu, their sports streaming service.
They added in the statement that after giving it some thought, they had decided to end the Venu Sports joint venture and not start the streaming service. We concluded that it was best to concentrate on current products and distribution channels in order to satisfy the changing needs of sports fans in a market that is constantly changing. We are thankful to the Venu personnel, whom we will assist during this transition, and we are proud of the work that has been done on Venu thus far.
Initially revealed in February, Venu aimed to merge Fox, WBD, and Disney-owned ESPN’s live sports assets. Due in part to a legal challenge from internet TV bundler Fubo, which said the platform would be anticompetitive, it was originally scheduled to begin before the NFL season began in September.
According to the judge in the antitrust lawsuit, Disney, Fox, and WBD collectively own at least 60% of all nationally broadcast U.S. sports rights and more than 50% of all U.S. sports media rights.
According to those acquainted with the situation, Venu staff members were shocked to learn late Thursday night that it would not debut. After Disney agreed earlier this week to merge its Hulu+ Live TV with Fubo, resolving any lawsuits over Venu, they thought they had a clear route forward to launch the service.
However, the judge’s ruling in Fubo’s case raised doubts about the legitimacy of cable bundling in general, which led Disney to reach an agreement with Fubo that would give Disney 70% of the ensuing business. Additionally, satellite companies DirecTV and Dish wrote to a federal court two days ago, claiming that the judge’s legal issues were still unaddressed.
According to those familiar with the company’s actions, the three businesses chose to shut down Venu rather than risk a protracted legal battle that would threaten bundling in general, including Disney’s attempts to bundle its own streaming companies (ESPN, Hulu, and Disney+).
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Negotiating bundled carriage agreements for its several cable networks, such as CNN, TNT, HGTV, and Food Network, is a key component of Warner Bros. Discovery’s economic strategy.
In August 2025, Disney plans to launch ESPN Flagship, a comprehensive ESPN streaming service. Unlike ESPN+, the as-yet-unnamed ESPN streaming service will offer all of the content that airs on ESPN’s linear network.
Disney has new methods to package so-called skinny bundles, which are smaller selections of channels for less money, thanks to its arrangement with Fubo and its recent carriage renewal with DirecTV. Venu was created with the intention of charging less for fewer linear channels than regular cable TV.
Disclosure: Comcast is a co-owner of Hulu and the parent company of CNBC, NBCUniversal.