A New Era of Streaming Has Begun as Fubo and Hulu + Live TV Has Finally Arrived
Earlier this year, The Walt Disney Company made waves in the streaming industry by announcing its acquisition of a 70% stake in Fubo, with plans to fold the service into Hulu + Live TV.
The surprising move came as the company was attempting to launch Venu Sports, a proposed streaming platform intended to bring together major sports networks from Disney, Warner Bros. Discovery, and Fox.
Venu
Shortly after news of Venu’s development surfaced, Fubo filed an antitrust lawsuit against the companies involved. In an unexpected turn of events, a federal judge issued an injunction, pausing the platform’s launch as the case made its way through the courts.
Photo: Fubo
With Disney’s purchase of Fubo, the lawsuit was settled.
Fubo Approved the Deal Last Month
Late last month, Fubo shareholders approved Disney’s acquisition of a majority stake in the streamer.
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
Now, the combined streaming service is one step closer to fruition.
Fubo and Hulu + Live TV
Today, Fubo and Disney announced that their transaction has been closed, and Fubo and Hulu + Live TV have launched.
Photo: Hulu
The new streaming service is now the sixth-largest Pay TV company in the United States with 6 million customers.
Going forward, Fubo and Hulu + Live TV will remain available as separate, distinct services. Additionally, both the Hulu and Fubo apps will remain.
Photo: Disney
“Since Fubo’s founding a decade ago, our vision has always been to build a consumer-first streaming platform defined by innovation and value,” said David Gandler, Co-founder and CEO of Fubo. “Together with Disney, we’re creating a more flexible streaming ecosystem that gives consumers greater choice, while driving profitability and sustainable growth.”
Walt Disney Company
With the transaction now closed, Disney owns 70% of Fubo, while existing Fubo shareholders hold the remaining 30%.
The Leadership Team
The new Fubo and Hulu + Live TV business will be run by Fubo Co-founder and CEO David Gandler.
Photo: The Wrap
Joining Gandler in steering Fubo and Hulu + Live TV will be a board of directors with a breadth of operational experience.
The board is comprised of Gandler, former Disney executive Andy Bird (Independent Chairman), Daniel Leff (Lead Independent Director), Ignacio “Nacho” Figueras (Independent Director), and former Disney executive Jonathan S. Headley (Independent Director).
Current Disney executives Debra OConnell, Cathleen Taff, Jim Lygopoulos, and Justin Warbrooke.
The Walt Disney Company
“It is a privilege to join Fubo as Chairman at such a transformative time for the company,” said Andy Bird, Chairman of the Board of Directors. “Today’s announcement brings together two industry leading brands and a compelling set of resources that uniquely position us to meet the evolving needs of today’s consumer.”
The Walt Disney Company
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