Lawmakers have raised concerns that the service could lead to increased consumer prices.
Venu Sports is gearing up to provide a comprehensive platform for streaming various athletic events. However, the significant amount of sports content owned by Disney (which controls ESPN), Fox, and Warner Bros. Discovery has sparked questions regarding the new streaming service. Three members of Congress are urging the Department of Justice and the Federal Communications Commission to investigate whether Venu is in violation of antitrust laws.
“If this joint venture is allowed to proceed, competitors would have to negotiate with Fox, Disney, and Warner Bros. for access to over half of the major sports licensing rights while also competing against these companies to offer the best product for broadcasting or streaming these programs,” wrote Sen. Elizabeth Warren (D-MA), Sen. Bernie Sanders (I-VT), and Rep. Joaquin Castro (D-TX) in an open letter. They also expressed concerns that Venu might drive up prices for consumers, noting that the anticipated launch price is already high at $43 a month.
This call for scrutiny is not the first time Venu has faced opposition. Following the announcement of the joint venture, FuboTV filed a lawsuit claiming that Venu would violate antitrust regulations.
