Disney's Hulu + Live TV service and Fubo to merge in surprise deal ending Venu lawsuit [CNN]
Fox Corporation - Class B (FOX)
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Source: CNN
Under the terms of the agreement, Disney will own 70% of Fubo while the TV streaming service's current management team will operate the newly combined entities, led by Fubo co-founder and chief executive David Gandler. The combined streaming cable service will have 6.2 million subscribers, making it the second largest streaming pay TV provider, behind only YouTube TV. As part of the deal, Fubo will drop its lawsuit against Venu Sports, the streaming joint venture between Disney, Fox Corp, and CNN's parent Warner Bros. Discovery, potentially allowing it to move forward. The companies said Disney, Fox and WBD will pay Fubo $220 million, and Disney will provide a $145 million loan to Fubo through 2026. “We are thrilled to collaborate with Disney to create a consumer-first streaming company that combines the strengths of the Fubo and Hulu + Live TV brands,” said Gandler. “This combination enables us to deliver on our promise to provide consumers with greater choice and flexibility.”
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- Skip Bayless accused of offering Fox Sports hairstylist $1.5 million for sex [Los Angeles Times (CA)]Los Angeles Times
- Disney Agrees to Merge Hulu + Live into Fubo, Settles Venu Suit [Yahoo! Finance]Yahoo! Finance
- Disney's Hulu + Live TV service and Fubo to merge in surprise deal ending Venu lawsuit [CNN]CNN
- Former Fox Sports host Skip Bayless harassed hairstylist and offered her $1.5 million for sex, lawsuit alleges [CBS News]CBS News
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