FuboTV app on Wednesday, February 21, 2024, New York, USA.
Gabby Jones | Bloomberg | Getty Images
disney Hulu+ Live TV will come 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. Hulu+ Live TV and Fubo are both streaming services that mimic traditional cable TV bundles, offering linear TV networks.
These streaming services have a total of 6.2 million subscribers.
Notably, under the agreement, Fubo and Disney have settled litigation regarding Venu, Disney, Fox and Warner Bros. Discovery Channel’s proposed sports streaming service.
Fubo has filed lawsuits against Disney, Fox and WBD. Last year, a US judge temporarily blocked Venu’s launch.
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. If the deal falls through, Fubo will receive a $130 million termination fee.
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.
