FuboTV jumps on deal with Disney to merge online live TV businesses

FuboTV

06/01/2025 14:21

(Updates)
    ** Shares of FuboTV  FUBO.N  jump 165.3% to $3.78 premarket
    ** Walt Disney  DIS.N  to combine its Hulu + Live TV
business with Fubo and become majority owner of the resulting
company, companies say
    ** DIS shares up 0.5% at $111.70 premarket
    ** The combined business will operate under the Fubo
publicly traded company name led by the existing Fubo management
team; Fubo and Hulu + Live TV will continue to be available to
consumers as separate offerings
    ** Fubo has settled all litigation with Disney and ESPN
related to Venu Sports, a sports streaming platform planned by
DIS, Fox  FOXA.O  and Warner Bros. Discovery  WBD.O 
    ** DIS, Fox, and WBD will make an aggregate cash payment to
Fubo of $220 mln
    ** DIS has committed to provide a $145 mln term loan to Fubo
in 2026 as part of the transaction
    ** FUBO shares slumped ~60% in 2024

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))