Disney, Fox, Warner Bros. Discovery sports streaming venture launch blocked by federal judge in win for Fubo
CNN
A federal judge on Friday temporarily blocked the upcoming launch of Venu Sports, the joint sports streaming venture from Warner Bros. Discovery, Disney and Fox Corporation.
A federal judge on Friday temporarily blocked the upcoming launch of Venu Sports, the joint sports streaming venture from Warner Bros. Discovery, Disney and Fox Corporation. The decision follows a request by Fubo, a smaller rival sports streaming service, for a preliminary injunction just weeks before the planned launch of the new platform and the start of the NFL season. “It appears to the Court that Fubo is likely to succeed on its claims that by entering into the JV, the JV Defendants will substantially lessen competition and restrain trade in the relevant market,” U.S. District Judge Margaret Garnett wrote in the preliminary injunction order. Fubo filed a lawsuit against the media giants in February over the planned launch of Venu Sports, arguing that the trio were attempting to leverage their sports media rights to edge out competitors, cornering the market in a single, allegedly anticompetitive bundle. In a joint statement Friday, Disney, Fox Corp., and WBD (CNN’s parent company), said they would appeal the ruling. “We respectfully disagree with the court’s ruling and are appealing it. 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 preliminary injunction. Venu Sports is a pro-competitive option that aims to enhance consumer choice by reaching a segment of viewers who currently are not served by existing subscription options.”
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