Fubo's stock skyrockets on Disney Hulu+ Live TV deal

Dow Jones
01-06

MW Fubo's stock skyrockets on Disney Hulu+ Live TV deal

By James Rogers

Fubo shares are up more than 166% in premarket trades

Shares of FuboTV Inc. are up 166.7% in premarket trades after the company announced a deal to combine Walt Disney Co.'s Hulu + Live TV service with Fubo.

The combined business will operate under the Fubo $(FUBO)$ publicly traded company name led by the existing Fubo management team, the companies said, in a statement. Disney $(DIS)$ will become the majority owner of the resulting company, with 70% ownership.

As part of the deal, all litigation between Fubo and Disney has been settled.

Related: Fubo stock gains again after judge blocks Disney-Fox-WBD sports streaming bundle due to 'near-monopolistic' concerns

Fubo has been involved in legal action against Disney, Fox Corp. $(FOX)$, and Warner Bros Discovery $(WBD)$ over the Venu Sports streaming service. . Fubo had argued that the service from Disney, Fox and Warner Bros could reduce competition.

Disney shares are up 0.5% in premarket trades.

Fox Corp. and News Corp $(NWSA)$ $(NWS.AU)$, the parent of MarketWatch publisher Dow Jones, share common ownership.

-James Rogers

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

 

(END) Dow Jones Newswires

January 06, 2025 09:02 ET (14:02 GMT)

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