FUBO Calls a Timeout Halting Launch of Venu Sports, a Disney, FOX, Warner Bros, and Discovery Joint Venture

Yesterday PRISM AdTech and Media Index company FuboTV Inc. (FUBO), who is one of the leading sports-focused live TV streaming platforms, successfully halted the launch of the Venu Sports joint venture (JV) by The Walt Disney Company, FOX Corp., and Warner Bros. Discovery. This development follows the U.S. District Court for the Southern District of New York’s approval of Fubo’s request for a preliminary injunction. The ruling marks a significant victory for Fubo, as it challenges three of the world’s largest media conglomerates in an attempt to foster a more competitive streaming environment for consumers.

David Gandler, co-founder and CEO of Fubo, stated:

“Today’s ruling is a win not just for Fubo, but for consumers as well. This decision supports our goal of ensuring a more competitive marketplace with diverse sports streaming options for viewers.

Fubo sought to prevent the launch of the JV, which would have controlled an estimated 60%-80% of live broadcast sports content according to its partners. Fubo argued that the JV would reduce competition, limit consumer choice, and lead to significant price increases for consumers, all while increasing profits for the JV partners.

Fubo also plans to continue with its antitrust lawsuit against the JV partners and their affiliates, accusing them of engaging in anticompetitive practices that have harmed both Fubo and consumers.

A court date for the antitrust lawsuit has not yet been set.