By Reuters
January 6, 2025 – 6:55 AM PST
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Walt Disney Co (DIS.N) said on Monday it would merge its Hulu + Live TV business with smaller rival FuboTV (FUBO.N) in a deal that also potentially clears the way for the launch of its sports streaming venture with Fox Corp and Warner Bros Discovery.
The combination creates the second-biggest internet pay-TV company in North America, behind YouTube TV, with around $6 billion in revenue and 6.2 million subscribers.
Disney will hold a 70% majority stake in the venture, which will be led by Fubo CEO and co-founder David Gandler. The deal excludes Hulu’s mainstay video-streaming business.
As part of the agreement, Fubo will also drop its lawsuit against Venu, the sports streaming service planned by Disney, Fox, and Warner Bros Discovery. The companies will pay Fubo…
