By George Glover
FuboTV stock was skyrocketing in early Monday morning trading after the sports streaming service and Walt Disney reached a deal to merge their live TV offerings.
Fubo stock soared 222% to $4.63 ahead of the opening bell. Disney shares climbed 0.5% to $111.69. Futures tracking the benchmark S&P 500 were up 0.8%.
The two companies will combine Disney's Hulu + Live TV with Fubo, Disney said in an 8-K filing on Monday. Fubo has also agreed to a $220 million cash payment to settle its case against Venu Sports, the joint streaming service proposed by Disney's ESPN, Fox, and Warner Bros. Discovery.
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(END) Dow Jones Newswires
January 06, 2025 09:20 ET (14:20 GMT)
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