Disney Hulu+ Live TV merges with Fubo | Wilnesh News

disney Combine its Hulu+ live TV service with fuboThe two companies announced Monday that they are merging two Internet TV packages together.

Disney will become the majority shareholder of the combined company (listed Fubo Corporation), owning 70% of the shares. Fubo shareholders will own the remaining 30% of the company.

Hulu+ Live TV and Fubo are streaming services that mimic traditional cable TV bundles and provide linear TV networks. These streaming services have a total of 6.2 million subscribers.

After the transaction is completed, these two services will still be available to consumers separately. Hulu+ Live TV can be streamed through the Hulu app and is part of the Disney Bundle, which also includes Hulu, Disney+ and ESPN+.

The deal does not include streamer Hulu, which is known for creating original content such as “Murder in the Building” and “The Handmaid’s Tale,” which are paired with shows like Netflix.

Fubo shares, which closed at just $1.44 a share on Friday, soared 170% in early trading on Monday before giving back some of those gains.

“Upon completion of the transaction, our company expects to be immediately cash flow positive, immediately positioning Fubo as a major player in the streaming space,” Fubo co-founder and CEO David Gandler said during a conference call with investors on Monday.

Notably, under the agreement, Fubo and Disney have settled litigation regarding Venu, the proposed sports streaming service from Disney, Fox and Warner Bros. Discovery Channel.

Fubo has filed lawsuits against Disney, Fox and WBD, accusing the service of being anti-competitive, and last year a US judge temporarily blocked the launch of Venu.

When the Disney-Fubo agreement is signed, Disney, Fox and Warner Bros. Discovery Channel will jointly pay Fubo $220 million in cash. Disney will also provide Fubo with a $145 million term loan in 2026.

The combined company will be led by Fubo’s management team, including Gandler, and a majority of the new board of directors will be appointed by Disney.

The companies also announced Monday that Fubo and Disney have entered into a new carriage agreement that will allow Fubo to create a new sports and broadcast service featuring Disney Network.

Bloomberg report Earlier Monday, it emerged that a deal to merge live TV streaming services was imminent.

This is breaking news. Please check back for updates.