Disney, Fox, Warner Bros. Scrap Venu Sports Streaming Plan (3)

Walt Disney Co., Fox Corp. and Warner Bros. Discovery Inc. scrapped plans to create a joint sports streaming service, saying they want to focus on their existing online offerings instead.

The decision came just days after Disney agreed to merge its Hulu + Live TV streaming service with the online sports-focused company FuboTV Inc., and to take a 70% stake in the new entity. The deal also settled a lawsuit brought by Fubo against the three companies involved in creating Venu Sports.

“After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not ...