FuboTV up after US judge temporarily blocks launch of sports-streaming venture by rivals

FuboTV

19/08/2024 19:24

(Updates)
    ** Shares of sports streaming platform FuboTV  FUBO.N  rise
16.8% to $1.79
    ** U.S. judge on Friday temporarily blocked launch of
sports-streaming venture named Venu Sports by Walt Disney
 DIS.N , Fox  FOXA.O  and Warner Bros Discovery  WBD.O 
    ** FUBO in Feb sued the companies involved, accusing them of
antitrust practices that would thwart competition and inflate
prices for consumers
    ** "While the Court did not rule on the legality of bundling
(channels) as part of the preliminary injunction, the Court's
tone leads us to wonder if bundling will come under further
attack as the Venu/Fubo case proceeds to trial," analysts at
LightShed Partners say
        ** Brokerage Needham says this injunction has 75% chance
of "killing Venu"
  
    ** Venu Sports was set to launch this fall in United States
    ** Up to previous close, stock had fallen ~52% YTD

 (Reporting by Harshita Mary Varghese and Jaspreet Singh in
Bengaluru)
 ((HarshitaMary.Varghese@thomsonreuters.com))