New York, August 20, 2024 - PRISM MarketView - Yesterday PRISM AdTech and Media Index company FuboTV Inc. (FUBO), who is one of the leading sports-focused live TV streaming platforms, successfully halted the launch of the Venu Sports joint venture (JV) by The Walt Disney Company, FOX Corp., and Warner Bros. Discovery. This development follows the U.S. District Court for the Southern District of New York’s approval of Fubo’s request for a preliminary injunction. The ruling marks a significant victory for Fubo, as it challenges three of the world’s largest media conglomerates in an attempt to foster a more competitive streaming environment for consumers.
“Today’s ruling is a win not just for Fubo, but for consumers as well. This decision supports our goal of ensuring a more competitive marketplace with diverse sports streaming options for viewers."
David Gandler, Co-founder and CEO of Fubo
Fubo sought to prevent the launch of the JV, which would have controlled an estimated 60%-80% of live broadcast sports content according to its partners. Fubo argued that the JV would reduce competition, limit consumer choice, and lead to significant price increases for consumers, all while increasing profits for the JV partners.
Fubo also plans to continue with its antitrust lawsuit against the JV partners and their affiliates, accusing them of engaging in anticompetitive practices that have harmed both Fubo and consumers.
A court date for the antitrust lawsuit has not yet been set.
About PRISM MarketView:
Established in 2020, PRISM MarketView is dedicated to the monitoring and analysis of small cap stocks in burgeoning sectors. We deliver up-to-the-minute financial market news, provide comprehensive investor tools and foster a dynamic investor community. Central to our offerings are proprietary indexes that observe emerging sectors, including biotech, clean energy, next-generation tech, medical devices and beyond. Visit us at prismmarketview.com and follow us on X.
Disclaimer:
PRISM MarketView is not a registered or licensed broker-dealer or investment adviser and does not offer investment advice. The information provided in this communication is not intended to constitute an offer to sell, a solicitation of an offer to buy, or a recommendation for any security.
Contact:
Prism MarketView | Stock Market News & Investment Opportunities