Disney's Hulu + Live TV and sports streaming service Fubo are combining in a deal that will also see the settlement of a lawsuit against the creation of Venu Sp
FILE- This June 24, 2015, file photo shows the Hulu Apple TV app icon in South Orange, N.J. Disney's Hulu + Live TV and sports streaming service Fubo are combining in a deal that will also see the settlement of a lawsuit against the creation of Venu Sports.
The combined company, which Disney will have a 70% stake in, will operate under Fubo's publicly traded company name and be led by Fubo's existing management team. Fubo and Hulu + Live TV have a combined 6.2 million North American subscribers. “This combination enables us to deliver on our promise to provide consumers with greater choice and flexibility," Fubo CEO David Gandler said in a statement. “Additionally, this agreement allows us to scale effectively, strengthens Fubo’s balance sheet and positions us for positive cash flow.”
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