Venu Sports, a newly launched live streaming service specializing in sports content, has appointed David Hillman as its inaugural Chief Legal Officer. The venture, a collaboration between industry giants The Walt Disney Co., Fox Corp., and Warner Bros. Discovery Inc., is scheduled to go live this fall. Hillman transitions to Venu after an extensive tenure at Paramount Global, formerly known as ViacomCBS, which recently dismissed a potential acquisition offer from Skydance Media (link).
Hillman’s lawyerly purview at Venu will encompass all legal facets for the service, which aims to provide both college and professional sports at a competitive price point (link), rivaling traditional cable subscriptions (link).
Venu represents a significant venture for Disney, Fox, and Warner Bros., but it is currently under scrutiny by the Justice Department, which is conducting an antitrust review due to concerns regarding its potential impact on consumers, competitors, and sports leagues (link).
Hillman’s previous roles include serving as general counsel for CBS Sports, CBS News, and their respective stations and broadcast operations at Paramount. He initially joined Paramount (then CBS Corp.) in 2012 as general counsel for publishing house Simon & Schuster, which Paramount sold last year for $1.6 billion to KKR & Co after a previous deal with Bertelsmann SE’s Penguin Random House was blocked by a federal judge on antitrust grounds (link).
Soon after Venu’s plans were announced, rival FuboTV filed an antitrust lawsuit against Disney, Fox, and Warner Bros. Discovery, accusing them of collusion to undermine its business. Legal teams representing the companies include Cravath, Swaine & Moore for Disney, Dechert for Fox, and Weil, Gotshal & Manges for Warner Bros. Discovery, while FuboTV is represented by Kellogg, Hansen, Todd, Figel & Frederick (link).