Official press release from Disney or FuboTV, major financial news outlets

Disney Merges Hulu Live TV with FuboTV, Taking 70% Stake in Combined Company

Jan 6, 2025, 01:57 PM

Disney is nearing a deal to combine its Hulu + Live TV business with FuboTV, forming a new venture that will be 70% owned by Disney and 30% by FuboTV. Disney, Fox Corp., and Warner Bros. Discovery will make an aggregate cash payment of $220 million to FuboTV as part of the transaction, and Disney has committed to provide a $145 million term loan to FuboTV in 2026. FuboTV plans to drop its legal claims over Venu Sports, a sports streaming service backed by Disney, Fox Corp., and Warner Bros. Discovery. The combined service, operating under the Fubo name and led by Fubo CEO David Gandler, will have over 6.2 million subscribers and aim to compete more effectively with other streaming services like YouTube TV. Following the announcement, FuboTV's stock surged by over 200%.