FuboTV and Disney to Merge Hulu + Live TV Business in New Agreement

FuboTV Inc. and The Walt Disney Company have announced a definitive agreement for Disney to merge its Hulu + Live TV business with Fubo. Under the terms of the agreement, Disney will own 70% of Fubo at the closing, with Fubo's existing management team to continue operating the combined business. The collaboration aims to enhance consumer choice through a wide range of programming offerings.

Both Fubo and Hulu + Live TV will continue as separate offerings post-closing, with Fubo's Sports & Broadcast service to include Disney's premier sports and broadcast networks. The combined company will benefit from synergies and is projected to be well-capitalized and cash-flow positive immediately after the closing of the transaction.

As part of the transaction, Fubo has settled all litigation with Disney, FOX, and Warner Bros. Discovery, with an aggregate cash payment to Fubo of $220 million.

The transaction will be submitted to Fubo's shareholders for their consideration and approval at a special meeting. Fubo will hold an investor conference call today, January 6, 2025, to provide further details regarding the transaction.

Source: Business Wire