Disney merges Hulu + Live TV with sports streamer Fubo

Disney has just wrapped up a major deal to merge Hulu + Live TV with the sports streaming service Fubo. This means that The Walt Disney Company now owns 70% of Fubo and will be combining it with their existing Hulu + Live TV business.

The agreement to merge these two platforms was made earlier this year, and Fubo’s shareholders gave it the green light just a few weeks ago. With a total of 6.2 million subscribers in North America, the newly merged business will now be publicly traded under the Fubo name.

The leadership team at Fubo, led by co-founder and CEO David Gandler, will be in charge of running the combined Fubo and Hulu + Live TV services. Don’t worry, though – Fubo and Hulu + Live TV will still be around as separate options for consumers to enjoy.

A new board of directors has been announced, with Andy Bird as the chair overseeing the strategic direction of the newly formed sixth largest pay TV company in the US. The board also includes other industry professionals like Daniel Leff, Ignacio ‘Nacho’ Figueras, Jonathan S. Headley, Jim Lygopoulos, Debra O’Connell, Cathleen Taff, and Justin Warbrooke.

This deal comes after some legal back and forth, with Fubo suing Disney, Fox, and Warner Bros Discovery over a new sports streaming platform called Venu Sports. But now, thanks to this agreement, all litigation has been resolved and Fubo is set to receive a combined payment of US$220m from Disney, Fox, and WBD.

David Gandler, the co-founder and CEO of Fubo, shared his excitement about the merger, saying, “Since Fubo’s founding a decade ago, our vision has always been to build a consumer-first streaming platform defined by innovation and value.” He added, “Together with Disney, we’re creating a more flexible streaming ecosystem that gives consumers greater choice, while driving profitability and sustainable growth.”

Overall, this merger aims to provide more options and value for consumers while also benefiting shareholders. It’s a big move in the world of live streaming entertainment!