The Venu sports streaming joint venture cleared one legal hurdle this week. But it was facing even more.

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. "After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,

Walt Disney, Fox, and Warner Bros. Discovery said Friday they have scrapped plans to launch their jointly owned streaming platform Venu Sports, sending shares in rival FuboTV higher. “After careful consideration,

The Walt Disney Co., Fox Corp. and Warner Bros. Discovery Inc. are scrapping plans to create a joint sports streaming service, just days after settling a lawsuit brought against the three companies alleging the platform would squelch competition.

The sports-focused streaming service co-founded by The Walt Disney Co, Warner Bros. Discovery and Fox Corp. will not move forward, the companies said Friday. Caroline Flack Doc From Disney+ Will Follow Her Mother's Search for Answers in Star's Final Months

The Walt Disney Company, Fox, and Warner Bros. Discovery have announced that they are canceling their planned Venu Sports streaming service abruptly shutting down a multi-billion joint venture that was legally troubled from minute one.

The U.S. Justice Department and 16 U.S. states said in court filings last year that they support a court order won by FuboTV in August that temporarily blocked Walt Disney, Fox and Warner Bros Discovery from launching a competing sports streaming venture.