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

"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.

Venu Sports, the streaming service backed by Disney, Fox and Warner Bros. Discovery, will not launch, the companies announced 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.