Disney Nears Deal to Merge Hulu + Live TV with FuboTV

Walt Disney Co. and sports-focused streaming provider FuboTV are nearing a deal to combine their online live TV businesses, according to a Bloomberg News report published Monday. The agreement would see Disney fold its Hulu + Live TV service into FuboTV, creating a new venture 70% owned by Disney and 30% by FuboTV.

The deal, which excludes Hulu’s on-demand streaming library, could reshape the competitive landscape of the live TV streaming market. FuboTV’s shares surged nearly 32% to $1.90 in premarket trading following the report, while Disney’s stock saw marginal gains. FuboTV, valued at approximately $480 million as of its last close, had faced significant challenges in 2024, with its shares plummeting over 60% due to slowing revenue growth and intense competition.

As part of the agreement, FuboTV plans to drop its legal claims against Disney, Fox Corp, and Warner Bros Discovery regarding their joint sports streaming platform, Venu Sports. FuboTV had sued the media giants in February 2024, alleging that Venu would violate U.S. antitrust laws by reducing competition and driving up prices. A district court judge had previously issued an injunction temporarily blocking Venu’s launch, siding with FuboTV’s antitrust claims.

The merger would allow Disney to consolidate its live TV offerings under FuboTV’s platform, which specializes in sports streaming. Hulu + Live TV currently offers consumers access to over 90 live TV channels, along with Hulu’s on-demand library, Disney+, and ESPN+. The ad-supported plan is priced at $82.99 per month, while a