Venu Sports — the proposed sports-streaming service born from the partnership of Fox (FOX, FOXA), Warner Bros. Discovery (WBD), and Disney (DIS) — has been blocked by a federal judge ahead of its expected launch next week on Friday, August 23. The court ruled in favor fuboTV (FUBO) in its antitrust claims this joint venture presented.

Wells Fargo has upgraded Fox Corporation to Overweight, with analysts' current price target sitting at $46 per share, on the opportunities Venu Sports posed for the media giant.

Julie Hyman and Josh Schafer report on the details of the story, looking at fuboTV's stock reaction to this news.

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This post was written by Luke Carberry Mogan.