In its move to Fox, IndyCar continues to lack a domestic direct-to-consumer streaming option for fans who have cut the cord.

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.

The sports-focused streaming service co-founded by The Walt Disney Co, Warner Bros. Discovery and Fox Corp. will not move forward, the companies said Friday.