What Happened?

Shares of live sports and TV streaming service fuboTV (NYSE:FUBO) jumped 240% in the afternoon session after the company revealed a new streaming deal with Disney. Under the agreement, Fubo and Hulu + Live TV will collaborate to form a joint venture. Disney will hold a 70% stake in the new company, which will operate under the Fubo brand and be led by Fubo's management team. In a related move, Fubo announced the resolution of all legal disputes with Disney and ESPN concerning Venu Sports, a streaming platform previously planned by ESPN, Fox, and Warner Bros. Discovery. As part of the settlement, Disney, Fox, and Warner Bros. Discovery agreed to pay Fubo $220 million.

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What The Market Is Telling Us

fuboTV’s shares are extremely volatile and have had 64 moves greater than 5% over the last year. But moves this big are rare even for fuboTV and indicate this news significantly impacted the market’s perception of the business. 

The biggest move we wrote about over the last year was 5 months ago when the stock gained 35.5% on the news that the company won a preliminary injunction against the launch of the Venu Sports joint venture between The Walt Disney Company, FOX Corp., and Warner Bros. Discovery. Fubo argued that the JV would have monopolized 60%-80% of live broadcast sports content, reducing competition and increasing prices for consumers. David Gandler, co-founder and CEO, Fubo, commented: "Today's ruling is a victory not only for Fubo but also for consumers. This decision will help ensure that consumers have access to a more competitive marketplace with multiple sports streaming options."

fuboTV is up 238% since the beginning of the year, and at $4.76 per share, has set a new 52-week high. Investors who bought $1,000 worth of fuboTV’s shares 5 years ago would now be looking at an investment worth $463.49.

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