fuboTV Inc. (NYSE:FUBO) shares soared 29% on Wednesday after the sports-first streaming platform announced the completion of its merger with Disney’s (NYSE:DIS) Hulu + Live TV business, creating a new powerhouse in the U.S. pay television market.
The combined company becomes the sixth-largest pay TV provider in the United States, serving nearly 6 million subscribers across North America. Under the terms of the deal, Disney now holds about 70% ownership in the newly formed entity, while existing Fubo shareholders retain the remaining 30%.
Both Fubo and Hulu + Live TV will continue to operate as separate streaming services, each offering a range of subscription plans. The integration is expected to yield cost efficiencies through more flexible programming packages, enhanced advertising strategies, and streamlined marketing operations.
The merged company will be led by David Gandler, Fubo’s co-founder and CEO, alongside its existing executive team. A new board of directors has also been appointed, with Andy Bird serving as Chairman, to oversee the company’s long-term growth strategy.
“Together with Disney, we’re creating a more flexible streaming ecosystem that gives consumers greater choice, while driving profitability and sustainable growth,” said Gandler in the announcement.
As part of the transaction, Fubo’s advertising sales division will be integrated into Disney’s ad sales organization, allowing for improved monetization across both platforms. In addition, Disney has agreed to provide a $145 million term loan in 2026 to support the combined company’s capital structure.
The partnership brings together a vast library of content, offering over 55,000 live sporting events along with broad entertainment programming from both Fubo and Hulu. Hulu + Live TV will remain available via the Hulu app and continue to be featured in Disney’s streaming bundle with Disney+ and ESPN Unlimited.