WBD, Fox and ESPN have decided to call it quits on the joint venture.

Disney, Fox and Warner Bros. Discovery have called off plans to launch their sports streaming service Venu, the companies said 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,

A joint venture between entertainment titans Disney, Fox, and Warner Bros. Discovery, Venu Sports was poised to shake up the streaming industry with a $42.99-a-month service that bundled the likes of ESPN, FS1, BTN, TNT, TBS, and other top sports offerings.

Venu Sports, the planned streaming service from ESPN, FOX and Warner Bros. Discovery, will be discontinued effective immediately, the three companies announced in a joint statement. “After careful consideration,

Venu Sports, the planned sports-centric streaming service from ESPN (Disney), Fox, and Warner Bros. Discovery will be “discontinued,” the companies said in a joint statement on Friday morning. It was a “collective decision,” media members were informed, and is “effective immediately.”

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

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. Caroline Flack Doc From Disney+ Will Follow Her Mother's Search for Answers in Star's Final Months

The three companies will instead be focusing on "existing products and distribution channels" The post Venu Sports Is Dead: Disney, Warner Bros. Discovery and Fox Scrap Joint Streaming Venture appeared first on TheWrap.

Fox (NASDAQ:FOXA), and Warner Bros. Discovery (NASDAQ:WBD) have decided to disband their three-way joint venture, Venu Sports, the companies said Friday. The news comes in the wake of Disney's proposed combination of its Hulu + Live TV business with FuboTV (NYSE:FUBO).