In a surprising turn of events, Disney, Fox, and Warner Bros. Discovery have decided to cancel their joint venture sports streaming service, Venu, just days after settling a legal challenge with streaming TV service Fubo. The decision to scrap Venu was reportedly due to the potential for further legal challenges that could delay the launch and cost the companies time and money.
Despite the cancellation of Venu, Disney announced a separate deal to essentially buy Fubo, merging its Hulu + Live TV service with Fubo and acquiring 70% ownership of the company. This deal will give Fubo the right to launch a new "skinny" bundle of Disney properties, including ESPN and ABC.
While the end of Venu may disappoint some sports fans, Fubo appears to be emerging as a winner in the situation. The company now has the opportunity to offer a service similar to Venu, potentially including Fox programming as well.
The cancellation of Venu raises questions about the future of sports streaming and how viewers will choose to access their favorite content. With Disney set to launch its own ESPN-only service and various distribution deals in the works, there will be no shortage of options for sports fans in the coming year.
Overall, the decision to cancel Venu reflects the challenges and complexities of the evolving streaming landscape. While the joint venture may have come to an end, the industry continues to adapt and offer new ways for viewers to enjoy sports content. It remains to be seen how these developments will impact the future of sports streaming and the viewing experience for fans.