- August 16, 2024
- Posted by: legaleseblogger
- Category: Related News
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Federal Judge Blocks Media Giants’ Joint Venture for Sports Streaming Service
A federal judge has recently blocked a joint venture between media giants, which aimed to combine their sports licensing rights to create a new streaming service. This decision came after rival sports streamer Fubo challenged the legality of the partnership. The ruling by U.S. District Judge Margaret Garnett prevents The Walt Disney Co., Fox Corp., and Warner Bros. Discovery from moving forward with their planned streaming service called Venu.
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Details of the Streaming Bundle
The streaming bundle, set to launch in the fall at $42.99 per month, aims to offer a comprehensive package including Max, ESPN+, and Hulu. Subscribers will have access to various live, linear channels such as ESPN, Fox, ABC, TNT, and TBS, along with ESPN+. With rights to major sports leagues like NFL, NBA, MLB, and NHL, as well as college sports and pro tennis, the joint venture holds a significant share of the TV rights for professional and college sports.
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Fubo Challenges the Media Giants
Fubo’s case against Disney, Fox, and Warner Bros. revolves around the claim that the joint venture could lead to increased costs for consumers due to anticompetitive bundling requirements. The platform, Venu, is positioned to dominate the sports bundle market, offering a premium sports package without additional unwanted channels that drive up costs.
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Defense from the Media Giants
In response to Fubo’s allegations, Disney, Fox, and Warner Bros. argue that Fubo is attempting to stifle innovation and competition by challenging their joint venture. They maintain that Fubo is a weak competitor that lacks value in the TV ecosystem compared to the established media giants.
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Conclusion and Potential Appeals
With the denial of the preliminary injunction, Venu may choose to pursue an immediate appeal of the court’s decision. The absence of CBS Sports and NBC Sports on Venu could impact the availability of NFL and college games on the platform, while changes in NBA broadcasting deals may result in fewer pro basketball games being accessible.
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