Well, this is quite a mystery.
Last year, all the buzz was about how ESPN, Fox and Warner Bros. Discovery were set to create a new joint streaming service called Venu Sports that would give viewers one place to watch all the sports.
It was given a price ($42.99 a month!) and then was inevitably challenged in court.
But just after one of those legal challenges was settled, there was this statement from the venture on Friday: “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.”
Venu Sports, the proposed virtual MVPD service from ESPN, FOX & Warner Bros. Discovery, will be discontinued
The collective decision by the three companies not to move forward with the contemplated joint venture is effective immediately
More: https://t.co/Cvwv2h601G pic.twitter.com/lylDeHDy9p
— ESPN PR (@ESPNPR) January 10, 2025
Huh? This is coming out of nowhere.
As I mentioned, there was a lawsuit by Fubo that was withdrawn thanks to a settlement, which seemed to get Venu the green light to go. But there was possibly more legal trouble ahead, with DirecTV and Dish making noise. Maybe there were signals we haven’t heard publicly that the government might intervene due to antitrust concerns.
Whatever it is, it’s a shock.
