Fox, Disney, and Warner Bros. Discovery (WBD) have abandoned their joint sports streaming venture, Venu, before its launch. Each company is now pursuing individual strategies to capture the streaming market. Disney is focusing on its ESPN flagship app, expected to launch in the fall, which will include user-generated content to attract younger viewers. WBD has decided to include sports and news in its Max service at no extra cost, reversing an earlier plan to charge for sports. Fox, after years of staying out of the streaming wars, plans to launch its own app by year-end, offering both news and sports. This move comes as 50 million U.S. households have cut the cord, pushing Fox into the streaming game. The cost of sports rights has increased, leading companies to be more selective. ESPN recently ended its MLB deal due to high costs, while WBD lost NBA rights but gained college football and French Open rights. Fox has also been trading sports rights, focusing on audience size and advertising revenue.
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