The Venu Sports streaming service from Disney, Fox and Warner Bros. Discovery will not be launching after all. Why it matters: Venu's path had seemed to clear after Fubo dropped its lawsuit as part of its deal with Disney to merge their live TV streaming businesses.

The combined business of former adversaries will operate under Fubo’s publicly traded company (stock symbol FUBO) as the nation’s sixth-largest pay-TV operator with 6.2 million subscribers and be led by the existing Fubo management team with a cash infusion from Disney.

The three entities first announced plans for Venu Sports in February 2024, but its launch faced a legal challenge.

The planned streaming service Venu Sports has been scrapped before it ever started. Its planned launch last year was stopped due to a court fight with Fubo’s streaming business. Although that was recently settled, other companies had signaled they were going to oppose Venu.

Venu Sports, the proposed streaming platform that bundled content from ESPN, Fox and Warner Bros. Discovery, is no more.“After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,

"In an ever-changing marketplace, we determined that it was best to meet the evolving demands of sports fans by focusing on existing products and distribution channels," the companies added.

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.

Venu, the sports-focused streaming venture proposed by the Walt Disney Co., Fox Sports and Warner Bros. Discovery, will not see the light of day.

The companies called off what would have been a major bet days after Disney struck a deal with rival streamer Fubo.