Disney’s Acquisition of Fubo Has Cleared a Major Hurdle
Earlier this year, The Walt Disney Company shook up the streaming industry by announcing its purchase of a 70% stake in Fubo, with plans to integrate the service into Hulu + Live TV.
The unexpected deal marked a dramatic twist in the story of Venu Sports, a proposed streaming platform that aimed to unite major sports networks from Disney, Warner Bros. Discovery, and Fox.
Venu
Shortly after news of Venu’s development broke, Fubo filed an antitrust lawsuit against the companies behind it. In a surprising turn, a federal judge granted an injunction, halting the service’s launch while the case moved through the courts.
Walt Disney Company
With Disney’s purchase of Fubo, the lawsuit was settled.
Fubo Shareholders Have Approved the Deal
While Disney’s purchase of Fubo will still face regulatory scrutiny, the acquisition cleared a major hurdle today as Fubo shareholders approved the deal.
Photo: Deadline
“We would like to thank Fubo shareholders for voting to approve our business combination with Disney’s Hulu + Live TV business,” Fubo CEO David Gandler said in a statement.
“The transaction remains subject to regulatory approvals and other customary closing conditions, but today we are one step closer to fulfilling our vision of a streaming marketplace that provides consumers with greater choice and flexibility.”
Photo: Fubo
Although the final results of today’s vote are not known, the tally will be revealed in future Securities and Exchange Commission filings.
The Walt Disney Company
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