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BUZZ-FuboTV shares reverse course premarket after Venu Sports to be discontinued

Reuters
Jan 10, 2025

(Updates)

** Shares of live TV streaming platform FuboTV reverse course, last up 6.9% at $5.70 premarket

** Walt Disney , Fox Corp and Warner Bros Discovery will abandon the proposed joint venture, Venu Sports, as antitrust concerns continue to loom

** FUBO shares were earlier down about 6% premarket after U.S. satellite TV provider DirecTV challenged a dismissal of FUBO's lawsuit against Venu Sports

** DirecTV said the settlement did not resolve antitrust issues around the sports streaming joint venture

** FUBO had sued the three media giants behind Venu in February, claiming the venture would reduce competition and increase prices for consumers

** FUBO shares had fallen ~60% in 2024

(Reporting by Jaspreet Singh in Bengaluru)

((Jaspreet.Singh@thomsonreuters.com ; ))

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