Fubo Shareholders Approve Merger with Hulu + Live TV
The new MVPD company is expected to enhance consumer choice through more flexible programming offerings.
After a very strange year of legal battles surrounding Venu Sports, the merger of live TV streaming service Fubo and Hulu + Live TV has been approved by shareholders.
What’s Happening:
- Fubo TV, the nation's leading sports-first live TV streaming platform, will officially merge with Hulu + Live TV as shareholders have approved the previously announced deal with The Walt Disney Company.
- Decided during a special meeting of shareholders today, September 30th, the transaction remains subject to regulatory approvals and closing conditions.
- When the deal closes, Disney is expected to own approximately 70% of Fubo.
- Fubo’s existing management team, led by Fubo co-founder and CEO David Gandler, will operate the newly combined Fubo and Hulu + Live TV businesses.
- Fubo and Hulu + Live TV will continue to be available to consumers as separate offerings post-closing and will facilitate an enhanced choice of programming packages addressing a variety of consumer preferences at attractive price points.
- Fubo’s stock will continue to be traded on the New York Stock Exchange under the ticker symbol FUBO.
- More details on the terms of the agreement are available in our initial post on the pending deal from January.
What They’re Saying:
- David Gandler, Fubo co-founder and CEO: “We would like to thank Fubo shareholders for voting to approve our business combination with Disney’s Hulu + Live TV business. 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."
More Hulu News:
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- Country music star Lainey Wilson is returning to host this year’s CMA Awards on ABC and Hulu, and it looks like she’s going solo this time.
- While Laughing Place’s Alex Reif described the series as “deliciously addictive," the high was short-lived as Hulu has canceled Mid-Century Modern after one season.
- The trailer for the sixth and final season of Hulu’s otherworldly animated series, Solar Opposites, has arrived.
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