Disney completes deal to merge Hulu + Live TV with sports streamer Fubo

The Walt Disney Company has completed its deal to become 70% majority owner in sports-focused streaming service Fubo, which it will now merge with its Hulu + Live TV business.

David Gandler

The companies entered a definitive agreement to merge Hulu + Live TV with Fubo earlier this year and the transaction was approved by Fubo’s shareholders earlier this month.

The merged business, which has a combined subscriber base of nearly six million in North America, will be traded publicly under the Fubo name.

Fubo’s existing leadership team, which is led by co-founder and CEO David Gandler, will operate the newly combined Fubo and Hulu + Live TV businesses. Fubo and Hulu + Live TV will continue to be available to consumers as separate offerings.

The newly announced board of directors will see Andy Bird serve as chair and guide the strategic direction of what is now the sixth largest pay TV company in the US.

The board will also include Daniel Leff, Ignacio ‘Nacho’ Figueras, Jonathan S. Headley, Jim Lygopoulos, Debra O’Connell, Cathleen Taff and Justin Warbrooke.

The deal comes after Fubo sued Disney, Fox and Warner Bros Discovery (WBD) for the planned launch of Venu Sports, a streamer that was to bring together sports rights from the three US media firms under a combined offering.

Fubo and Disney said earlier this year that, as a result of the deal, all litigation has now been resolved with Disney, in addition to Fox and WBD.

In connection with the end of the litigation, Disney, Fox and WBD will make a combined payment of US$220m to Fubo, while Disney will also provide a US$145m term loan to Fubo in 2026 as part of the transaction.

“Since Fubo’s founding a decade ago, our vision has always been to build a consumer-first streaming platform defined by innovation and value,” said Gandler, co-founder and CEO of Fubo.

“Together with Disney, we’re creating a more flexible streaming ecosystem that gives consumers greater choice, while driving profitability and sustainable growth.

“We’re also proud to reward our retail shareholders who have supported Fubo’s mission from the very beginning. We believe this combination delivers the scale, stability and strategic clarity to create lasting value for consumers and shareholders, and indelibly impact the future of live streaming.”