Disney, Fox, and Warner Bros. Discovery have decided to abandon their plans for launching the Venu sports streaming service. The companies announced this decision in a joint statement, explaining that they would instead focus on enhancing their existing products and distribution channels to better cater to sports fans. Venu was initially set to combine the live sports assets of Fox, Warner Bros. Discovery, and Disney-owned ESPN, with a planned launch before the NFL season in September. However, legal challenges from Fubo, which claimed the platform would be anticompetitive, delayed the launch. This week, Disney and Fubo settled their litigation, leading to a deal combining Hulu+ Live TV with Fubo’s internet TV bundle. Following the announcement, Fubo’s stock rose by about 5% in premarket trading on Friday.
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