Disney and Fubo have announced a merger of their Hulu+ Live TV and Fubo streaming services, creating a combined company with 6.2 million subscribers. Disney will hold a 70% stake, while Fubo shareholders will own the remaining 30%. The deal, expected to close in 12 to 18 months, will see Fubo become immediately cash flow positive. Fubo’s stock surged 170% in early trading following the announcement. The merger includes a $220 million cash payment to Fubo from Disney, Fox, and Warner Bros. Discovery, settling previous litigation over the Venu sports streaming service. Disney will also provide a $145 million term loan to Fubo in 2026. If the deal falls through, Fubo would receive a $130 million termination fee. The combined company will be led by Fubo’s management, with Disney appointing the majority of the board. Fubo had 1.6 million subscribers before the merger and focuses on sports and news content.
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