Disney and Fubo Finalize Merger for Hulu + Live TV Operations

LOS ANGELES, CA — Disney and Fubo announced Wednesday the successful closing of their merger, combining Hulu + Live TV operations with Fubo. Under the agreement, Disney will retain a 70% stake in the new entity, making it the second largest virtual pay-TV provider in the U.S., with nearly 6 million subscribers in North America.

The merger, initially announced in January, positions the combined business just behind Google’s YouTube TV, which has more than 10 million subscribers. Fubo will remain a standalone service alongside Hulu + Live TV, with each platform offering various subscription plans to consumers.

As part of the merger, Fubo has dropped an antitrust lawsuit against Venu Sports, a streaming package from Disney, Fox Corp., and Warner Bros. Discovery. The companies received clearance from the Justice Department’s Antitrust Division to finalize the deal.

Disney’s commitment includes a $145 million term loan to Fubo, aimed at supporting future operations. The merger is expected to yield cost and operational synergies through advertising optimization and more flexible programming options.

Andy Bird, a former Disney executive, will serve as the independent chairman of the new organization. “It is a privilege to join Fubo as chairman at such a transformative time for the company,” Bird said in a statement.”

David Gandler, Fubo’s co-founder and CEO, emphasized the merger’s potential for innovation and consumer value. “Together with Disney, we’re creating a more flexible streaming ecosystem that gives consumers greater choice,” Gandler noted.

The board of directors for the newly combined business will include several Disney executives alongside Gandler. The merger also resolves past litigation and allows both companies to offer diverse content options while enhancing overall consumer value.

The merger’s completion marks a significant moment for both companies amid a challenging streaming landscape.