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.
This is breaking news. Check back for more analysis soon.
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
January 06, 2025 09:20 ET (14:20 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.