"Similar to competitors DirecTV, YouTube TV and Charter Spectrum, both Hulu + Live TV and Fubo distribute traditional channels, including broadcasters ABC, CBS and cable channels Fox News, Bravo and ESPN. The combined company will be overseen by a nine-member board led by Brad Bird, former chair of Walt Disney International. The firm will continue to offer Fubo and Hulu + Live TV as separate services available through their respective apps."
"Disney's investment plans were announced in January, after the much smaller Fubo sued Disney and two other media companies over their plans to launch a high-profile streaming joint venture, Venu Sports. Fubo argued the collaboration of Disney, Fox Corp. and Warner Bros. Discovery was " a sports cartel," one that would crush its business. A judge agreed based on antitrust concerns, blocking further development of Venu. Disney's deal to acquire 70% of New York-based Fubo ended that litigation."
""Since Fubo's founding a decade ago, our vision has always been to build a consumer-first streaming platform defined by innovation and value," Gandler said in a statement. "Together with Disney, we're creating a more flexible streaming ecosystem that gives consumers greater choice, while driving profitability and sustainable growth." His firm will have access to a $145-million term loan that Disney agreed to provide. Fubo's ad sales team will join Disney's sales organization."
Disney finalized its deal to acquire a majority stake in FuboTV and combined Hulu + Live TV with Fubo's sports-focused operation. The union creates the nation's sixth-largest pay-TV service with nearly 6 million domestic subscribers. Financial terms were not disclosed. A nine-member board led by Brad Bird will oversee the combined company. Fubo CEO David Gandler and Fubo's management team will run the combined business. Disney agreed to provide a $145-million term loan and Fubo's ad sales team will join Disney's sales organization. Fubo and Hulu + Live TV will remain available as separate services through their apps. The acquisition ended prior litigation over the proposed Venu Sports venture.
Read at Los Angeles Times
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