fuboTV Inc., a leading sports-focused live TV streaming platform, has announced a Special Meeting of Shareholders to vote on its proposed merger with The Walt Disney Company and Hulu, LLC, as outlined in a Business Combination Agreement signed on January 9, 2025. The virtual meeting, set for September 30, 2025, at 10:30 a.m. Eastern Time, will allow shareholders to consider proposals critical to the merger, which aims to integrate Fubo’s operations with Hulu’s live TV streaming service, Hulu + Live TV. However, the company emphasized that the transaction still requires approval from governmental and regulatory agencies, and it could face challenges or be blocked. Fubo hopes to close this deal by the end of 2025.
In a letter to shareholders dated August 7, 2025, Fubo detailed the structure of the proposed merger. The Business Combination Agreement involves a complex “Up-C” reorganization where Hulu will contribute assets related to its Hulu + Live TV service, referred to as the Hulu Live Business Assets, to a newly formed entity, “Newco.” Fubo will also contribute its business to Newco in exchange for units representing a 30% economic interest, while Hulu will hold a 70% economic interest. Additionally, Fubo will issue non-voting Class B Common Stock to Hulu, representing a 30% voting interest in Fubo on a fully-diluted basis. The transaction includes Fubo converting from a Florida corporation to a Delaware corporation and forming a new subsidiary, Fubo OpCo, to facilitate the merger.
The Special Meeting will be conducted virtually, allowing shareholders to participate via live webcast with a 16-digit control number provided on their proxy cards. Fubo highlighted that the virtual format ensures expanded access while maintaining the same rights as an in-person meeting, including the ability to ask questions and vote electronically. Shareholders are encouraged to check in early, starting at 9:45 a.m. Eastern Time.
Despite the strategic alignment of combining Fubo’s sports-centric streaming service with Hulu’s broader live TV offerings, the merger’s completion is not guaranteed. Fubo’s letter to shareholders explicitly noted that the transaction awaits approval from regulatory bodies, and there is a risk it could be challenged or blocked. This uncertainty stems from increasing scrutiny of media mergers, particularly those involving major players like Disney, which could raise antitrust concerns.
The proposed merger represents a significant step for Fubo, which has positioned itself as a leader in sports streaming, and Hulu, known for its robust live TV and on-demand content. If approved, the deal could create a formidable player in the competitive streaming market, combining Fubo’s niche expertise with Hulu’s extensive content library and Disney’s backing. However, shareholders and industry observers will be closely watching the regulatory process, which could determine the deal’s fate.
The proxy statement and related materials are being mailed to shareholders on or about August 7, 2025, providing detailed information on the proposals and the Business Combination Agreement. Fubo urged shareholders to review these documents carefully and participate in the vote to shape the company’s future.
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