Venu Sports Will Be Discontinued as ESPN, FOX, and WBD Scrap Controversial Joint Streaming Venture
ESPN, FOX, WBD cancel the planned joint venture to focus on existing products
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In a surprise move on Friday morning, ESPN, FOX and Warner Bros. Discovery announced that Venu Sports, their proposed virtual MVPD- service joint venture, will be discontinued. According to a joint statement, the collective decision by the three companies not to move forward with the contemplated joint venture is effective immediately.
“After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,” the companies said in the statement. “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 announcement comes less than a week after another suprise announcement, when Disney agreed to combine its Hulu + Live TV streaming service with FuboTV to form a virtual-MVPD company. In conjunction with the deal, Fubo settled all litigation with Disney and ESPN related to Venu Sports, as well as with FOX and WBD.
However, shortly thereafter DirecTV and EchoStar’s Dish asked a U.S. district judge to reconsider a dismissal of claims by Fubo TV against the Venu Sports streamer after the surprise merger. To potentially block the launch of Venu on completion of the proposed merger transaction, DirecTV and Dish on Jan. 7 wrote U.S. District Judge Garnett to raise a red flag over the dismissal of Fubo’s claims against Venu and lifting the preliminary injunction on anti-competitive grounds.
The Venu Sports service was targeted at sports fans outside the traditional pay-TV bundle and was originally set to launch in the U.S. last fall at a price point of $42.99 per month. The service would have offered thousands of live events from all the major professional sports leagues and top college conferences. The streaming service offered access to 14 sports channels — ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS, ABC, FOX, FS1, FS2, BTN, TNT, TBS, truTV — and to ESPN+ and an expansive library of on-demand content and live studio shows from the companies’ respective portfolios.
Former Apple and Hulu executive Pete Distad was installed as CEO of the company with offices in New York and Los Angeles. In addition, the leadership team comprised several seasoned executives, including Apple veteran Tony Billetter as its SVP of Strategy and Planning, former Los Angeles Rams CTO Skarpi Hedinsson as its CTO, and Amit Dudakia, former SVP of Product Management for Fox Technology & Digital, as SVP/Head of Product.
Friday’s announcement appears to mark the final chapter in what has been a dramatic year-long saga for Venu Sports after it was first announced in February 2024.
