08:27 AM EST, 01/06/2025 (MT Newswires) -- Walt Disney ( DIS ) , Fox (FOX), and Warner Bros Discovery ( WBD ) will urge the US Court of Appeals to reverse a ruling made by a lower court that halted the launch of their Venu Sports streaming service, Reuters reported Monday citing a legal filing.

An injunction was issued by a district court judge after FuboTV ( FUBO ) sued the companies, claiming Venu Sports would violate antitrust laws by reducing competition and increasing prices, according to the report.

The media companies reportedly argued the ruling protects the Fubo streaming service from competition and prevents consumers from accessing a lower-cost sports streaming option.

The US Department of Justice and several states supported the injunction, citing concerns that the companies' control of 54% of US sports rights could harm competition, Reuters reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)