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.

Venu was announced in 2024 as a slimmed down streaming package carrying the channels that would have offered such channels as ESPN.

Shares of Disney, Fox and Warner Bros. Discovery all sold off after the companies said they wouldn't move ahead with Venu Sports, their planned joint streaming venture. Read more:

The joint venture sports streamer was to carry live streams of 14 sports-related channels from the three companies. It’s been a roller-coaster of a week for Disney. The company started things out on Monday by announcing that it would merge its live TV streaming service Hulu + Live TV with Fubo,

Venu Sports, the live sports joint venture, between Walt Disney, Fox and Warner Bros Discovery will be discontinued, the companies said on Friday. The media companies had planned to launch Venu Sports,

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

Venu Sports, the joint streaming service from Warner Bros. Discovery, Fox Corp., and Disney, will be discontinued before it even launched, the trio announced in a surprise decision Friday morning.

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.