The ruling issued by U.S. District Judge Margaret Garnett emphasized that Fubo was likely to prevail in claiming that the formation of Venu would substantially lessen competition and restrain trade, highlighting the essential balance needed in the sports streaming market to prevent monopolistic practices.
Fubo's CEO David Gandler hailed the decision as a victory not just for his company but for consumers as well, stating that it would foster a more competitive sports streaming landscape. He emphasized the importance of equal treatment within the industry, suggesting his company's commitment to fighting against the consolidation of power by media giants.
In response to the court's ruling, the major media companies involved in Venu expressed disagreement and announced plans to appeal, asserting their belief that Fubo's arguments were fundamentally flawed. They promoted Venu as a pro-competitive solution aimed at enhancing the sports streaming experience for fans.
The formation of Venu was aimed at creating a centralized destination for younger sports fans who are moving away from traditional pay-TV, as these companies seek to contend with tech giants like Amazon Prime Video that are heavily investing in live sports content.
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