Walt Disney, Fox, and Warner Bros. Discovery said Friday they have scrapped plans to launch their jointly owned streaming platform Venu Sports, sending shares in rival FuboTV higher. “After careful consideration,

The companies called off what would have been a major bet days after Disney struck a deal with rival streamer Fubo.

FuboTV stock was skyrocketing on Monday after the company and Walt Disney agreed to merge their live TV offerings in a deal that could shake up the sports streaming landscape. Disney is combining its Hulu + Live TV business with Fubo to form a new streaming platform,

The Walt Disney Company, Fox, and Warner Bros. Discovery have announced that they are canceling their planned Venu Sports streaming service abruptly shutting down a multi-billion joint venture that was legally troubled from minute one.

Venu was blocked on its drive to the goal. Disney, Fox and Warner Bros. Discovery on Friday said they would scrap their ambitious plans for a bundled sports streamer that would show all their game telecasts and studio programs,

Venu Sports, the planned sports-centric streaming service from ESPN (Disney), Fox, and Warner Bros. Discovery will be "discontinued," the companies said in a joint statement on Friday morning. It was a "collective decision,

Disney, Fox and Warner Bros. Discovery have called off plans to launch their sports streaming service Venu. Venu was first announced in February and intended to combine the live sports assets of Fox,

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. “After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,