Judge temporarily blocks sports streaming service owned by Disney, Fox, Warner Bros.
A U.S. judge temporarily blocked media companies Disney, Warner Bros.
A U.S. judge temporarily blocked media companies Disney, Warner Bros. Discovery and Fox from launching their sports streaming service, Venu, according to court filings.
The temporary injunction, granted in response to a lawsuit brought by Fubo TV, comes just weeks ahead of the start of the NFL season. The companies had planned to launch their service by that date.
Fubo, an internet TV bundle akin to the traditional pay TV package, alleged in its lawsuit that Venu was anticompetitive and would upend its business. Fubo’s stock gained 16% Friday on the news of the injunction.
“Today’s ruling is a victory not only for Fubo but also for consumers. This decision will help ensure that consumers have access to a more competitive marketplace with multiple sports streaming options,” said Fubo CEO David Gandler in a press release after the court decision.
Warner Bros. Discovery, Fox and Disney’s ESPN announced the formation of the joint venture streaming service in February. Soon after Fubo filed an antitrust lawsuit against the venture.
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