Sacked in the endzone? Down for the count? Struck out swinging? Go ahead and pick your favorite sport metaphor, but the bottom line is that Venu Sports is done.
In a joint statement, Venu Sports backers Disney, Fox, and Warner Bros. Discovery announced they are dropping their plans for the ambitious streaming service, which would have bundled some of the most popular sports channels into a single—and somewhat pricey—package.
“After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,” the statement says, as reported by Variety.
“In an ever-changing marketplace, we determined that it was best to meet the evolving demands of sports fans by focusing on existing products and distribution channels. We are proud of the work that has been done on Venu to date and grateful to the Venu staff, whom we will support through this transition period.”
The move marks a sudden, decisive end to the Venu Sports saga, made all the more dramatic given that only days ago, it appeared Venu might launch after all.
A joint venture between entertainment titans Disney, Fox, and Warner Bros. Discovery, Venu Sports was poised to shake up the streaming industry with a $42.99-a-month service that bundled the likes of ESPN, FS1, BTN, TNT, TBS, and other top sports offerings.
Those plans came to a screeching halt last August when streaming service Fubo—a sports-focused live TV service that had a lot to lose if Venu jumped into the game—filed a lawsuit objecting to the deal and a federal judge followed up with an injunction against Venu’s impending launch.
Venu Sports was looking on the ropes (sorry, the sports clichés are just too irresistible), but then a thunderbolt hit earlier this week: Fubo settled its Venu lawsuit after making a deal with Disney-owned Hulu to combine their live streaming TV services.
The end of Fubo’s lawsuit appear to pave the way for a possible Venu Sports revival, although in reality, several hurdles remained. The federal injunction was still in place, the Justice Department had filed an amicus brief in support of Fubo’s previous objections, and other big streaming players—such as DirectTV—made it clear they were still adamantly opposed to Venu opening its doors.
In the end, Disney, Fox, and Warners probably saw too many legal headaches in Venu’s future, and chose—you guessed it—to punt.
So, where does all this leave streaming sports fans? I’m sure our own Jared Newman will share his thoughts soon, but if you were hoping that a Venu Sports bundle would simplify the thicket of sports streaming options, that ain’t happening.
