Disney nears deal to merge Hulu + Live TV business into Fubo, Bloomberg News reports (updated)

FuboTV

06/01/2025 12:39

(Adds details from report in paragraphs 2,5, share movement in
paragraph 4, background throughout)
       Jan 6 (Reuters) - Walt Disney Co  DIS.N  and streaming
provider FuboTV  FUBO.N  are nearing a deal to combine their
online live TV businesses, Bloomberg News reported on Monday,
citing people familiar with the matter.
    Disney will fold its Hulu + Live TV business into FuboTV,
creating a new venture that will be 70% owned by Disney and the
rest by FuboTV, the report said.
    Disney and FuboTV did not immediately respond to Reuters'
requests for comment.
    Following the report, shares of FuboTV, which had a market
value of about $480 million as of last close, surged nearly 32%
to $1.90 in premarket trading. Disney was up marginally.
    As part of the deal, Fubo plans to drop its legal claims
against Disney, Fox Corp  FOXA.O  and Warner Bros Discovery
 WBD.O  over Venu Sports, the report said, removing a hurdle to
the roll-out of their upcoming sports streaming platform.
    FuboTV had sued the big media companies last February,
saying Venu Sports would violate U.S. antitrust law by reducing
competition and driving up prices. A district court judge found
that Fubo is likely to succeed in its antitrust claims, and
issued the injunction temporarily barring Venu's launch.
    The three media majors will ask the U.S. Court of Appeals to
reverse the ruling that blocked Venu's launch in a hearing on
Monday.

 (Reporting by Deborah Sophia in Bengaluru; Editing by Shilpi
Majumdar)
 ((DeborahMary.Sophia@thomsonreuters.com))