A judge has blocked the launch of the Venu Sports streaming service, planned by media giants Disney (DIS), Fox (FOXA), and Warner Bros. Discovery (WBD), which was set to debut this fall. This is a big win for fuboTV (FUBO), whose stock jumped 17% after the news.
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The three companies wanted to create a “one-stop shop” for sports fans by combining their TV offerings into Venu Sports, aimed at people who have ditched traditional pay-TV. But fuboTV argued that this new service would hurt its business and claimed the companies had been working together unfairly for years.
The judge agreed with fuboTV, saying the joint venture might break antitrust laws and could reduce competition in the market. Because of this, the launch of Venu Sports is on hold until the case is fully resolved, with the court believing it’s better for everyone to keep things as they are for now.
Which Streaming Stock Is the Best?
Turning to Wall Street, out of the four stocks mentioned above, analysts think that FUBO stock has the most room to run. In fact, FUBO’s price target of $2.65 per share implies more than 72% upside. At the other end, we have FOXA stock, which analysts believe is trading near fair value.
