Following the cancellation of the Venu project, Fox Corp., Disney, and Warner Bros. Discovery (WBD) are charting individual paths in live sports streaming. Venu, a planned joint streaming service, was shelved due to cost concerns and legal hurdles, including a block by a U.S. judge. Despite appealing the decision, the companies decided to proceed independently. Disney will focus on its upcoming ESPN streaming platform, set to launch in the fall, while WBD’s Max will offer sports and news without additional charges. Fox, which has largely avoided the streaming wars, plans to launch its own news and sports app by year’s end, hiring Pete Distad, formerly of Venu, to lead the effort. The rising cost of sports rights has made media companies more selective in their investments, with some, like ESPN, stepping back from long-term deals. WBD and Fox executives emphasized a strategic approach to acquiring sports rights that align with business goals. — news from CNBC
