In an investor note released Friday, MoffettNathanson Senior Analyst Robert Fishman, the sudden decision to abandon the Venu Sports joint venture left the financial advisory’s staff scratching their heads “somehow even harder” than they did when learning of The Walt Disney Co.’s decision earlier this week to acquire sports-first vMVPD Fubo.
“This brings to a close a year’s worth of strategy decisions that at nearly every turn left us with many more questions than answers,” says Fishman. Yet, he does present a conclusion that could have many tongues wagging: FOX may be the “unintended winner” with the sudden fizzle of Venu.
