The planned virtual multichannel video programming distributor (MVPD), Venu Sports, a joint venture between Disney, Fox, and Warner Bros. Discovery, has been officially cancelled. This announcement follows a settlement reached with FuboTV, which had previously been considered a potential partner for distributing Venu as part of Hulu + Live TV.
“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,” a statement released by the partners on January 10, 2025, stated.
While the Hulu + Live TV and Fubo partnership, along with Disney's investment in Fubo, will proceed, Venu will not be a separate offering. Venu Sports was initially slated to launch in the fall of 2025, offering a skinny bundle of channels like ESPN, Fox Sports, and TNT, along with ESPN+. However, the project encountered significant hurdles, including an antitrust lawsuit filed by FuboTV in 2024 that resulted in an injunction delaying the launch.
Reports suggest Disney played a significant role in the decision to terminate the venture, citing a reassessment of its strategies within the evolving media landscape. Disney's plans to relaunch its ESPN+ service with linear feeds of its networks likely contributed to this decision. The project, which had employed approximately 150 people, including a substantial C-suite, will result in job losses. The statement didn't detail severance packages or support for the affected employees, but opportunities within the sports divisions of the partner companies may be available.