The Walt Disney Company today announced they have closed their transaction to combine Fubo’s business with Disney’s Hulu + Live TV business.
Disney now holds 70% interest in the newly combined company with existing Fubo shareholders holding an approximately 30% interest.
Fubo’s existing management team, led by Fubo 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 and distinct services, each offering consumers multiple plan options from skinny to robust at compelling price points. Hulu + Live TV will continue to be streamed in the Hulu app and offered as part of an entertainment-focused bundle with Hulu, Disney+ and ESPN Unlimited. Fubo will continue to serve viewers in the Fubo app.
The acquisition of Fubo is a sign that, as consumers seek more value for the content they stream, streaming services are more likely to continue to consolidate. Although virtual MVPD’s like Disney’s Hulu + Live TV, YouTube TV and Fubo TV (whose specialty is sports), have become more popular in recent years, the costs involved in running them have been too high for these companies.
The newly combined Fubo and Hulu + Live TV business makes it the sixth largest pay TV company in the U.S. with nearly 6 million subscribers in North America and the second largest vMPVD after YouTube TV. The combined company will offer more than 55,000 live sporting events, and entertainment-focused programming offerings from Fubo and Hulu + Live TV.
The acquisition also allows Disney to strengthen its position as a juggernaut in live sports, with its ability to combine viewership from Fubo with its soon to be launched ESPN DTV streaming service.
Disney will also combine its marketing and sales teams for both services and says it will have more flexibility to optimize advertising efforts and offer more streaming packages, including the increasingly popular “skinny bundles. Disney says the combined company will have access to a $145 million term loan that it has dedicated to provide Fubo in 2026 as part of the transaction.
Fubo will discuss the transaction on its third quarter 2025 investor conference call on Monday, Nov. 3 at 8:30 a.m. ET.
