Disney, Fox, and Warner Bros Discovery have cancelled Venu Sports, their joint sports streaming venture, following legal challenges and accusations of anti-competitive behaviour.
Walt Disney, Fox, and Warner Bros Discovery have cancelled plans to launch Venu Sports, a joint streaming venture aimed at consolidating their extensive sports rights, including the NFL, NBA, and FIFA World Cup. The companies announced their decision on Friday, citing “careful consideration” amid significant legal opposition.
The project, which aimed for 5 million subscribers in its first year, faced challenges from FuboTV, a rival streaming service, which accused the trio of anti-competitive practices. Backed by the U.S. Justice Department and 16 states, FuboTV secured a court order in August that temporarily blocked the venture.
The decision comes days after FuboTV requested to dismiss its lawsuit, signalling a potential resolution. The cancellation affected stock performance, with Warner Bros Discovery and Fox shares falling over 1%, while FuboTV’s surged 7% in premarket trading.
The move highlights the complexities of launching new platforms in a competitive streaming market.
Canadian Prime Minister Mark Carney says it’s unlikely his government can strike a tariff-free trade deal with the U.S....
NATO Secretary General Mark Rutte is warning that major economies like Brazil, China, and India could face serious consequences if they continue tradi...
U.S. consumer prices rose at their fastest pace in five months in June, signaling the early impact of tariffs on inflation. However, subdued demand an...
Kyrgyzstan's GDP surged 11.7 percent year on year in the first half of 2025, driven by gains in services, construction and production, despite a decli...
The American leader stated that if an agreement between Russia and Ukraine is not achieved within that timeframe, "it will be very bad."...
Disney will pay Comcast’s NBCUniversal nearly $439 million to buy the remaining stake in streaming service Hulu, gaining full control.
Disney is cutting several hundred more jobs across its global operations, targeting departments like film, TV, and finance, as it continues to streamline costs in a rapidly evolving media landscape.
A fresh Star Wars adventure is on the way, as Shawn Levy and Ryan Gosling officially introduce Star Wars: Starfighter, set to hit cinemas in May 2027.
Walt Disney has announced further job cuts, with an additional 200 employees set to be laid off across its ABC News and entertainment TV networks, according to an internal memo. The majority of these layoffs will impact the New York-based ABC News division.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
Authorities in North Carolina are investigating three potential storm-related deaths linked to severe flooding from the remnants of Tropical Storm Chantal, officials said Tuesday.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 10th July, covering the latest developments you need to know.
China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Two student pilots were killed when two single-engine training aircraft collided mid-air in southern Manitoba, Canadian authorities confirmed on Tuesday.
U.S. consumer prices rose at their fastest pace in five months in June, signaling the early impact of tariffs on inflation. However, subdued demand and falling service prices may keep the Federal Reserve cautious about rate changes.
Dashkesan Iron Ore LLC, a subsidiary of CJSC AzerGold, has signed an agreement with China's Sinosteel Equipment & Engineering Co., Ltd. to conduct a feasibility study for building a production chain the Dashkesan iron ore deposits complex.
Tesla's highly-anticipated entry into India has finally happened with the opening of its first showroom — nine years after CEO Elon Musk first hinted at its launch.
An Italian court has placed LVMH group's high-end Italian cashmere firm Loro Piana under judicial administration for a year after allegedly uncovering worker abuse inside its supply chain, in the latest in a string of cases that have tainted the image of Italy's luxury brand.
A Moscow court has ruled that the assets of U.S.-owned canned food company Glavprodukt be handed over to the Russian state, the TASS news agency reported late on Friday, ending a months-long legal tussle over the company.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment