WEB DESK: Walt Disney Co and sports-focused streaming provider FuboTV are reportedly finalising an agreement to merge their online live TV services, Bloomberg News reported on Monday, citing sources familiar with the discussions.
According to various reports, Disney will retire its Hulu + Live TV business in FuboTV to form a new venture where Disney would have a 70 per cent membership and FuboTV will keep the other 30 per cent. It never includes Hulu direct subscription where the video streaming service offers on-demand
The current Hulu + Live TV subscription grants the access of on-demand internet library of Hulu, in addition to over 90 channels of live television. The pricing starts from $82.99 a month for the ad-supported plan including Disney+ and ESPN+, and $81.99 per month for “Live TV Only,” which does not include the Hulu library and does not include Disney+ and ESPN+.
Following this news, early in the day nearly 32 per cent higher climbing to $1.90 in premarket trading was the share prices of FuboTV, according to sources. It has been said that after more than 60 per cent drop experimentally in 2024 due to a slowing revenue growth and intensified competition, FuboTV might be worth about $480 million as of its last close. Disney’s stock also experienced slight movement upwards.
One of the terms of the proposed negotiation is reported to deal with the resolution of legal claims. FuboTV will also abandon its antitrust action against Disney, Fox Corp, and Warner Bros Discovery based on the foundation of the Venu Sports system.
The lawsuits argued that the formation of Venu Sports would severely curtail competition and push consumer costs higher. A district court issued an injunction temporarily restraining rollout of the platform, pending resolution of the court’s determination of probabilities that FuboTV would prevail in its claims.
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