Fubo and Disney’s Hulu + Live TV to merge: Streaming service agreement
Big news in the world of streaming entertainment! Disney has agreed to acquire a majority stake in Fubo, which means that the live TV streaming service will be merging with Hulu + Live TV. This is exciting because it opens up a whole new world of possibilities for both services.
As part of the deal, Fubo will settle its antitrust lawsuit, which was holding up the launch of Venu Sports, a sports-focused streaming service backed by ESPN, Fox, and Warner Bros. Discovery. After the merger, Disney will own 70% of the combined company, but Fubo’s existing management team will continue to lead the way.
The joint venture, which will have a total of 6.2 million subscribers, is aiming to compete with YouTube TV, which currently leads the industry with 8 million subscribers. Fubo currently offers over 200 channels starting at $80 per month, but with the merger, they will be able to launch a new, sports-centric service featuring Disney’s sports and broadcast networks.
Hulu + Live TV, on the other hand, is priced at $83 per month and includes nearly 100 channels, as well as access to Disney+ and ESPN+. To pave the way for the merger, Disney, Fox, and Warner Bros. Discovery will be making a $220 million cash payment to Fubo.
Overall, this merger is a big win for consumers, shareholders, and the streaming industry as a whole. The deal is expected to close within the next 12 to 18 months, so stay tuned for more updates on this exciting development in the world of streaming entertainment!
