As a long-time subscriber of various streaming services and someone who has seen the rise and fall of many promising platforms, I must say this latest development with Venu is quite intriguing. It’s like being a spectator at a high-stakes game where three giants are playing hardball to bring their innovative sports streamer into play.
Disney, Fox, and Warner Bros. Discovery aim to debut their upcoming sports-focused streaming service as soon as possible.
On Monday, the trio of media giants urgently requested the courts to expedite their appeal against the closure of their Venu sports streamer, emphasizing that they had already invested $74 million into this joint venture. They pointed out that the courts had taken an unprecedented step by halting the launch of “a fresh, consumer-friendly product” which was just weeks away from hitting the market.
In response to a court injunction issued by a U.S. District Court judge ten days ago, which blocked a group from debuting their new property following objections raised by FuboTV – a sports-centric streaming platform that claimed the launch of Venu would drive it out of business – an appeal has been submitted to the U.S. Court of Appeals for the Second Circuit.
The major media firms argue in their court documents that the appellants stand to forfeit substantial sums of money – approximately tens of millions – they’ve invested in a startup company whose launch has been halted. Additionally, around 50 employees who were hired by Venu find themselves in an uncertain position, and consumers are deprived of a groundbreaking product that Venu would have introduced, along with the stimulation of competition that such a novel offering could bring.
More to come…
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2024-08-27 01:46