Disney and Fubo Merger: A New Era in Streaming Services
Disney and Fubo have finalized their merger deal, combining Hulu + Live TV operations with Fubo. Disney now holds a 70% stake in the new company, making it the second largest virtual pay-TV provider in the U.S. with nearly 6 million subscribers in North America, behind Google’s YouTube TV. The joint venture was announced in January, with Fubo dropping its antitrust lawsuit against Venu Sports, a sports-focused streaming package from Disney, Fox Corp., and Warner Bros. Discovery. As part of the deal, Fubo's advertising sales group will transition to Disney’s advertising sales organization.
Both Fubo and Hulu + Live TV will remain separate services, offering consumers various plan options at competitive prices. Hulu + Live TV will continue to be available through the Hulu app and as part of a bundle with Hulu, Disney+, and ESPN Unlimited. Disney now owns approximately 70% of the combined company, while existing Fubo shareholders hold the remaining 30%. The new company offers consumers access to over 55,000 live sporting events and entertainment programming.
The merger allows the combined company to access a $145 million term loan from Disney in 2026. The companies expect to achieve cost, revenue, and operational synergies through content cost savings, advertising optimization, and sales and marketing opportunities. Andy Bird, former chairman of Walt Disney International, serves as the independent chairman of the new Fubo. Fubo's existing management team, led by CEO David Gandler, will oversee the operations of the combined Fubo and Hulu + Live TV businesses.
All of Fubo’s common stock has been converted into Class A Common Stock, which continues to trade on the New York Stock Exchange under the ticker symbol FUBO. The fiscal year for Fubo has been changed to end on Sept. 30, with the combined company's first full year following the merger also ending on Sept. 30, 2026. The merger aims to create a more flexible streaming ecosystem, providing consumers with greater choice and driving profitability and growth for the company.