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Media giants had hoped to attract younger viewers who don’t subscribe to cable with NBA, NFL and Fifa offerings
Disney, Fox and Warner Bros Discovery on Friday abandoned plans to launch Venu Sports, their live sports joint venture, pulling the plug on a much-heralded effort that ran into substantial legal opposition.
Shares of Warner Bros Discovery were down about 2% and Fox’s stock fell about 1%, while FuboTV’s shares were up nearly 8% after the surprise announcement.
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