FuboTV says Warner Bros networks to leave Fubo as of April 30th

The company states: “Fubo (FUBO) has attempted to renew with Warner Brothers Discovery (WBD) our Discovery content agreement for its networks including Discovery, HGTV, Food Network and TLC, among others, and to obtain license rights for its Turner sports networks TNT, TBS and truTV. Fubo offered Warner Brothers Discovery market rates for its content and, despite Fubo’s efforts to negotiate in good faith, Warner Brothers Discovery did not provide any counteroffer, and insisted on continuing to offer us above-market rates for its content. Fubo views Warner Brothers Discovery’s refusal to engage in good faith negotiations as another example of its abuse of massive market power that ultimately limits consumer choice. It is always Fubo’s mission to offer a leading package of premium sports, news and entertainment content while also providing value and keeping costs as low as possible for consumers. Warner Bros. Discovery has also denied our customers the choice of subscribing to their Turner sports content separately from Discovery content through a more affordable skinny sports bundle. Yet Warner Bros. Discovery has announced that it plans to make this must-have content available in its forthcoming sports streaming joint venture with The Walt Disney Company and FOX Corp. Warner Bros. Discovery’s refusal to offer Fubo standard market terms and packaging flexibility are more examples of the unfair and anti-competitive practices it and other vertically integrated media companies have imposed on Fubo for many years. These practices, outlined in our recent antitrust lawsuit filed against the joint venture companies, aim to monopolize the market, stifle any form of competition, create higher pricing for subscribers and cheat consumers from deserved choice. Fubo is taking action against these unfair market terms to avoid passing on these extra costs to consumers. It is clear to us that Warner Bros. Discovery’s actions hurt consumer wallets and limit their choice. As a result, Warner Bros. Discovery networks have left Fubo as of April 30, 2024 at 5pm ET.”