Disney's Hulu + Live TV and sports streaming service Fubo are merging in a deal valued at $220 million. The combined company, with Disney holding a 70% stake, will operate under Fubo's name and be led by Fubo's management. Both services will remain available to consumers separately. Disney will also provide a $145 million loan to Fubo and enter a new deal allowing Fubo to create a sports and broadcast service featuring Disney's networks. The merger also settles all litigation between Fubo and Disney, ESPN, Fox, and Warner Bros. Discovery regarding the planned sports streaming platform Venu Sports.
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.”
Hulu Fubo Disney Merger Streaming Sports Litigation Venu Sports
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