MDB Capital President and Chief Marketing Strategist Lou Basenese joins “Cavuto: Coast to Coast” to discuss Disney’s recent turnaround.
Disney and FuboTV announced a planned merger of Hulu Live + TV and Fubo on Monday.
The two companies will form a combined virtual multichannel video programming distribution (MVPD) company that will “operate under the publicly traded company name Fubo,” the companies said.
Disney will own a 70% stake in Fubo.
CHONGQING, CHINA – OCTOBER 31: Fubo app page is displayed on a smartphone in Apple App Store in front of FuboTV Inc. logo on October 31, 2024 in Chongqing, China. (Photo by Cheng Xin/Getty Images) (Cheng Xin/Getty Images/Getty Images)
This combination will “facilitate an expanded choice of programming packages and meet a variety of consumer preferences at attractive prices,” according to Disney and Fubo.
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It will be led by David Gandler, CEO of Fubo, and his management team.
He described the planned merger of Fubo and Hulu Live + TV as a “win for consumers, our shareholders and the entire streaming industry.”
Disney and Fubo said the latter would establish a “new Sports & Broadcast service” that would carry ABC, ESPN, ESPN2, ESPNU, SECN, ACCN, ESPNEWS and ESPN+ through a distribution agreement between the two.
vMVPD will “negotiate distribution agreements with content providers for the Hulu + Live TV and Fubo services independent of Disney,” according to the companies.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| SAY | THE WALT DISNEY Company. | 111.16 | +0.34 | +0.31% |
| FUBO | FUBOTV | 4.14 | +2.70 | +187.50% |
Once the deal closes, consumers will still have the option to get Fubo and Hulu + Live TV as “separate offerings,” they also said.
Fubo has been available since 2015.
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Meanwhile, Hulu first introduced Hulu + Live TV in 2017. Disney includes the service in bundles with Hulu, Disney+ and ESPN+.
Fubo and Hulu + Live TV together have more than 6.2 million North American subscribers, according to Disney and Fubo.
The logo of the Walt Disney Co. streaming service Hulu + Live TV is displayed on a taxi advertisement ahead of Super Bowl LVIII in Las Vegas, Nevada, February 7, 2024. (PATRICK T. FALLON/AFP via Getty Images / Getty Images)
At the same time the two companies announced the planned merger of Hulu + Live TV and Fubo, they also said a settlement had been reached for the lawsuit Fubo filed last year against ESPN, Fox and Warner Bros. Common streaming platform Discovery’s Venu Sports.
The combination of Fubo and Hulu + Live TV will be “subject to regulatory approvals, Fubo shareholder approval and the satisfaction of other customary closing conditions,” Disney and Fubo said.
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The new The vMVPD company “is expected to be well capitalized and cash flow positive immediately upon closing of the transaction,” they said.
Fubo shares jumped Monday on the news.
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