Venu Sports, the proposed virtual MVPD service from Disney’s (DIS) ESPN, Fox (FOXA) and Warner Bros. Discovery (WBD), will be discontinued. “The collective decision by the three companies not to move forward with the contemplated joint venture is effective immediately,” the companies stated. “After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service. 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 trio added in a joint statement.
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