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The latest update is out from fuboTV ( (FUBO) ).
FuboTV Inc. and The Walt Disney Company have reached an agreement to merge Disney’s Hulu + Live TV business with Fubo, forming a new virtual MVPD company. Disney will own a 70% stake in the new entity, while Fubo’s existing management team will continue to lead operations. The merger aims to enhance consumer choice with flexible programming options, leveraging a combined subscriber base of over 6.2 million in North America. Additionally, the transaction includes a settlement of all litigation between Fubo and Disney, ESPN, FOX, and Warner Bros. Discovery, with Disney and its affiliates making a substantial cash payment to Fubo and committing to a future term loan. This strategic move is expected to strengthen Fubo’s market position and financial standing, offering potential benefits to stakeholders through synergies and increased profitability.
More about fuboTV
FuboTV Inc. operates in the virtual multichannel video programming distributor (vMVPD) industry, providing a streaming service that allows users to access a wide range of live broadcast and cable networks. The company focuses on delivering sports and entertainment content, serving a substantial subscriber base in North America.
YTD Price Performance: 2.13%
Average Trading Volume: 11,164,642
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $481.1M
For an in-depth examination of FUBO stock, go to TipRanks’ Stock Analysis page.