A federal judge has frozen the launch of the planned sports streaming service Venu, a joint venture between Walt Disney Co., Fox Corp., and Warner Bros. Discovery, following a challenge from rival sports streamer Fubo. The judge issued a temporary injunction stating that Fubo had a good chance of proving that the partnership would reduce competition and limit trade. The aim of Venu was to create a one-stop destination for sports fans, particularly younger ones who are moving away from traditional pay-TV subscriptions.
Fubo CEO David Gandler hailed the ruling as a victory for his company and for consumers, emphasizing the importance of a competitive marketplace with multiple sports streaming options. He announced that Fubo would continue to fight and pursue legal action against the Venu partners for antitrust practices. The companies involved in the joint venture disagreed with the judge’s decision, stating that Venu Sports was a pro-competitive option that aimed to expand consumer choice to a segment currently underserved by existing subscription options.
The Venu service was set to launch this fall in time for the upcoming pro football season, with content from the three media giants including rights to various sports leagues. The companies had planned to bundle Venu with their existing services to offer a comprehensive sports streaming experience. The case is still ongoing, and the companies are appealing the judge’s ruling. This situation is developing, and more updates are expected in the future.
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