Fubo is seeking shareholder approval of its merger deal with Hulu + Live TV, owned by Disney, and has moved up with expected closing date to the end of this year.
Fubo filed a letter to shareholders with the SEC on Monday, “to consider and vote upon several proposals related to the Business Combination Agreement we entered into on January 6, 2025 (the “Business Combination Agreement”) with The Walt Disney Company, a Delaware corporation (“Disney”), and Hulu, LLC, a Delaware limited liability company (“Hulu”).”
The agreement to merge the live TV streaming businesses was first announced in January and came as a result of a settlement of litigation between Fubo and The Walt Disney Company, ESPN, FOX, and Warner Bros. Discovery, with Fubo aiming to prevent the launch of a new sports streaming service developed as a join venture between the media powerhouses.
Under the terms of the deal, Disney will become the majority owner of Fubo, holding approximately 70% of the combined company. However, Fubo will retain its name and public listing on the New York Stock Exchange and its current management team, led by co-founder and CEO David Gandler.
When the deal closes, Fubo and Hulu + Live TV will still be available as separate services, each with their own app. The agreement also gives Fubo the ability to launch a new sports service that will feature Disney networks including ABC, ESPN, ESPN2, ESPNU, SECN, ACCN and ESPNEWS, and ESPN+.