Three giant media companies have abandoned their plans to launch Venu Sports, a service that aimed to drastically shake up ...

The companies called off what would have been a major bet days after Disney struck a deal with rival streamer Fubo.

The dissolution of Venu is the latest development in the landscape of live sports, which has become fragmented amid the rise of streaming TV.

On Monday, the people behind Venu — the sports streaming service co-owned by Disney, Fox, and Warner Bros. Discovery — were ...