09:15 AM EST, 01/10/2025 (MT Newswires) -- Warner Bros. Discovery ( WBD ) Walt Disney's ( DIS ) ESPN ( DIS ) unit, and Fox (FOX, FOXA) said in a joint statement Friday they have decided not to move forward with their planned Venu sports streaming service.

The companies determined that focusing on their existing products and distribution channels better addresses the evolving needs of sports fans, according to the joint statement.