Venu Sports, a joint venture between Disney, Fox and Warner Bros., was announced to great fanfare last year but was discontinued before it ever became available.

WBD, Fox and ESPN have decided to call it quits on the joint venture.

Walt Disney , Fox and Warner Bros Discovery on Friday abandoned plans to launch Venu Sports, their live sports joint venture, pulling the plug on the much-heralded effort after it ran into substantial legal opposition.

Disney’s ESPN, Fox Corp. and Warner Bros. Discovery have thrown in the towel on their joint sports streaming service, Venu Sports, a venture that was first announced last February. The three would-be collaborators acknowledged the decision to walk away from Venu in a statement released this morning.

After careful consideration, we have collectively agreed to discontinue the Venu Sports joint venture and not launch the streaming service,” the companies said in a joint sta

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

Shares of Warner Bros Discovery and Fox fell more than 1%, while FuboTV's shares were up 7% in premarket trading. The streaming venture was established by the three media firms by bundling their broad portfolio of sports rights including the National Football League,