Venu Sports, the planned sports-centric streaming service from ESPN (Disney), Fox, and Warner Bros. Discovery will be “discontinued,” the companies said in a joint statement on Friday morning. It was a “collective decision,” media members were informed, and is “effective immediately.”

Three giant media companies have abandoned their plans to launch Venu Sports, a service that aimed to drastically shake up the streaming industry by bundling many sports channels together, officials said.

Disney, Fox and Warner Bros. Discovery have called off plans to launch their sports streaming service, Venu, the companies said in a joint statement Friday.