Disney, Fox and Warner Bros. Discovery have called off plans to launch their sports streaming service Venu, the companies said in a joint statement Friday. "After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,

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

Venu Sports, the planned sports-centric streaming service from ESPN (Disney), Fox, and Warner Bros. Discovery will be “discontinued,” the companies said in a joint statement on Friday morning. It was a “collective decision,” media members were informed, and is “effective immediately.”