A detail view of a broadcast camera is seen with the NFL crest and ESPN Monday Night Football logo on it during a game between the Chicago Bears and the Minnesota Vikings at Soldier Field in Chicago on Dec. 20, 2021.
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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 National Football League 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.
On Friday, Fubo said it intends to move forward with its antitrust lawsuit against the companies for their anticompetitive practices. In recent months, lawmakers, including Sen. Elizabeth Warren, D-Mass.; Sen. Bernie Sanders, I-Vt.; and Rep. Joaquin Castro, D-Texas, sent a letter pushing to scrutinize Venu.
“We respectfully disagree with the court’s ruling and are appealing it,” Warner Bros. Discovery, Fox and Disney’s ESPN said in a joint statement on Friday.
“We believe that Fubo’s arguments are wrong on the facts and the law, and that Fubo has failed to prove it is legally entitled to a preliminary injunction. Venu Sports is a pro-competitive option that aims to enhance consumer choice by reaching a segment of viewers who currently are not served by existing subscription options.”
Earlier this month, Venu announced pricing of $42.99 per month.
The service would offer the complete suite of live sports rights owned by the parent companies, which includes the National Basketball Association, National Hockey League, Major League Baseball, college football and basketball, among others. Venu subscribers would also have access to 14 traditional TV sports…
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