Disney, Fox and Warner Bros. Discovery have called off plans to launch their sports streaming service, Venu, the companies said in a joint statement Friday.

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,

Disney, Warner Bros. Discovery and Fox have officially killed the much-discussed Venu Sports, their combined sports streamer

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,” media members were informed, and is “effective immediately.”

Days after seemingly buying a lifeline, the companies pulled the plug on Venu Sports, the trio's proposed streaming service, effective immediately.

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. Caroline Flack Doc From Disney+ Will Follow Her Mother's Search for Answers in Star's Final Months

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.

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.

On Monday, the people behind Venu — the sports streaming service co-owned by Disney, Fox, and Warner Bros. Discovery — were gearing up their launch plans, after solving a legal challenge. A few days later,