The FuboTV app on television set in New York, USA, Wednesday, February 21, 2024.
Gabby Jones | Bloomberg | Getty Images
Disney Hulu + Live TV will be combined with Fubomerging two Internet TV packages, the companies announced Monday.
Disney will become the majority owner of the resulting company – the publicly traded company Fubo – with a 70% ownership stake. Both Hulu + Live TV and Fubo are streaming services that are similar to the traditional cable TV package, offering serial TV networks.
Together the streaming services have 6.2 million people.
The deal does not include streamer Hulu, known for creating original content like “Only Murders in the Building” and “The Handmaid's Tale,” which competes with high- floors like Netflix.
Notably under the agreement, Fubo and Disney have settled a lawsuit regarding Venu, the proposed sports streaming service from Disney, Fox and Warner Bros. Discovery.
Fubo had filed a lawsuit against Disney, Fox and WBD, and last year a US judge temporarily blocked the launch of Venu.
When the Disney-Fubo deal is signed, Disney, Fox and Warner Bros. Discovery jointly paid $220 million in cash to Fubo. Disney will also loan Fubo $145 million in 2026. If the deal goes through, Fubo would receive a termination fee of $130 million.
Bloomberg reported earlier on Monday a deal to merge the live TV streaming services was imminent.
This is breaking news. Please check back for updates.
