By Disney has announced they have reached a deal with pay-TV streaming provider Fubo that will see Hulu + Live TV combined with Fubo in a joint venture.
Under the deal, Fubo will drop its antitrust lawsuit seeking to derail Disney, Fox and Warner’s new sports-focused streaming package Venu Sports. Those three studios will also make a cash payment to Fubo of $220 million.
The separate Hulu SVOD service is NOT part of the Fubo deal and will remain separate.
Once the deal closes (within the next year to year-and-a-half), Fubo and Hulu + Live TV will have a combined 6.2 million North American subscribers – putting it behind only Google’s YouTube TV which has just over 8 million customers.
Disney will own 70% of the new venture, Fubo will hold the remaining 30% with the combined business to operate under the Fubo publicly traded company name. However, the Hulu + Live TV and Fubo brands will still be sold and marketed separately.
Also as part of the deal, Fubo will create a new ‘sports and broadcasting service’ featuring Disney’s sports and broadcast networks.
Source: Variety
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