Disney: Hulu + Live TV and Fubo services to merge

(CercleFinance.com) - Disney announced Monday that it has reached a definitive agreement with FuboTV to merge the channel aggregation platform with its live TV service Hulu + Live TV.


Under the terms of the deal, Disney will own 70% of Fubo, which will continue to be led by co-founder and CEO David Gandler, who will also lead the new merged entity.

Between them, Fubo and Hulu + Live TV boast more than 6.2 million subscribers in North America.

In a press release, Disney states that it has authorized Fubo to set up a new offering dedicated to sports and news, including its ABC and ESPN channels.

The agreement also provides for the amicable settlement of a dispute concerning Venu Sports, the sports streaming platform project spearheaded by ESPN, Fox and Warner Bros.

Under the financial terms of the agreement, Disney, Fox and Warner have agreed to pay Fubo $220 million in cash.

The American media and entertainment giant has also undertaken to lend Fubo $145 million up to 2026.

A termination fee of $130 million may also be paid to Fubo, subject to certain conditions.

Following these announcements, FuboTV shares soared by over 140% in early trading on the New York Stock Exchange on Monday morning, while Disney shares gained a more moderate 0.6%.

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