This week saw the surprise announcement of a merger between two major players in the streaming services space - Disney's Hulu + Live TV and Fubo. The move will create one of the largest pay-TV providers in the US and open up new opportunities for the development of sports streaming project Venu Sports.
New structure and terms of the agreement
Under the terms of the deal, Disney $DIS will acquire a 70% stake in Fubo, with Fubo's current management, led by its co-founder and CEO David Gandler, continuing to run the newly formed entity. The combination of the two streaming platforms will bring the total subscribers to 6.2 million, guaranteeing Fubo and Hulu + Live TV the position of the second largest streaming TV provider in the US, after YouTube TV.
As part of the deal, Fubo has decided to withdraw its lawsuit against Venu Sports, a joint initiative between Disney, Fox Corp and Warner Bros. Discovery (WBD), which was due to launch in August 2024 but was blocked by Fubo's lawsuit. To…