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RIP Venu But Lachlan Murdoch Says Fox Will Finally Launch Its Own DTC Service This Year
Fox CEO Lachlan Murdoch delivered a brief elegy this morning for shuttered sports streaming joint venture Venu but said it's launching its own DTC service this year.
AP Fox CEO Lachlan Murdoch delivered a brief elegy this morning for shuttered sports streaming joint venture Venu, saying the team did a tremendous about of “really genius” work preparing the service for launch but that ultimately “legal distractions around the business “became increasingly difficult to bear.” But, on a post-earnings call, he said the parent of Tubi and Fox Nation, is moving forward with a new, general DTC offering designed to reach “the large population of cord- cutters and cord-nevers who are not in the traditional cable bundle.” The smaller streamer settled with the three and basically agreed to sell itself to Disney, clearing the way for Venu but the three walked away as other rivals threatened more legal headaches.
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