Walt Disney, Fox and Warner Bros Discovery on Friday abandoned plans to launch Venu Sports, their live sports joint venture, pulling the plug on the much-heralded effort after it ran into substantial legal opposition. Shares of Warner Bros Discovery were down 4.6 per cent, Fox's stock fell about 2 per cent, while Disney lost 1.5 per cent after the surprise announcement. Venu was meant to attract sports fans who either canceled or never subscribed to cable TV - but quickly ran into legal