Venu Sports, the proposed virtual MVPD service from ESPN, FOX and Warner Bros. Discovery, will be discontinued, the three companies said in what they called a collective decision not to move forward with the contemplated joint venture.

Venu Sports, the live sports joint venture, between Walt Disney, Fox and Warner Bros Discovery will be discontinued, the companies said on Friday. The media companies had planned to launch Venu Sports,

The three companies will instead be focusing on "existing products and distribution channels" The post Venu Sports Is Dead: Disney, Warner Bros. Discovery and Fox Scrap Joint Streaming Venture appeared first on TheWrap.

The sports-focused streaming service co-founded by The Walt Disney Co, Warner Bros. Discovery and Fox Corp. will not move forward, the companies said Friday.

Walt Disney, Fox and Warner Bros Discovery on Friday abandoned plans to launch Venu Sports, their live sports joint venture, pulling the plug on a much-heralded effort that ran into substantial legal opposition.

The decision, made collectively by WBD, Fox, and Disney, is effective immediately. “After careful consideration, we have collectively agreed to discontinue the Venu Sports joint

The Walt Disney Co., Fox Corp. and Warner Bros. Discovery Inc. are scrapping plans to create a joint sports streaming service, just days after settling a lawsuit brought against the three companies alleging the platform would squelch competition.