Venu, a new sports streaming bundle backed by ESPN, FOX, and WarnerBros Discovery, may not be released soon. The three massive media companies announced in February that they were joining forces to create a new app. The streaming service will include thousands of live sporting events in one convenient place.
While convenient, Venu’s price tag is something not seen before in the streaming industry. Officials involved in the deal revealed that the app will cost customers $42.99 per month. Along with announcing the price, the media companies also declared that the service would hit the market in the fall. This, however, is now likely not to happen.
Judge sides with Fubo in antitrust lawsuit against Venu
Immediately after announcing Venu in February, Fubo sued ESPN, FOX, and WarnerBros Discovery. The fellow streaming television service argued that the collaboration violated current federal antitrust law. Judge Margaret Garnett has now officially agreed with Fubo.
“[I]t appears to the Court that Fubo is likely to succeed on its claims” that Venu would “substantially lessen competition and restrain trade,” Garnett wrote in a lengthy decision in the case, as reported by Front Office Sports.
“Together, they own over 60% of the telecast rights to nationally broadcast live sports, and an even larger share of the most-watched sports like football and basketball and the most-watched events like playoff or championship games,” continued Garnett. “Fubo alleged in its suit that Venu was part of a long-running conspiracy to deprive Fubo of the chance to create its own digital sports bundle.”
As a result of the ruling, ESPN, FOX, and WarnBros Discovery issued a statement opposing the judge’s decision. “We respectfully disagree with the court’s ruling and are appealing it,” read the statement. “We believe that Fubo’s arguments are wrong on the facts and the law, and that Fubo has failed to prove it is legally entitled to a…
Source link : https://worldsoccertalk.com/tv/fubo-scores-win-against-disney-fox-warnerbros-to-block-venu/
Author : Chris Moore
Publish date : 2024-08-17 16:51:07
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