By Kayla DeKraker
Fubo will join Hulu + Live TV in collaboration with Disney after Fubo shareholders approved a deal with Disney to expand its streaming reach.
Under the deal, Fubo will remain a publicly traded company under its current name, but Disney will become the primary owner. In a press release, Fubo explained, “At closing, Disney will 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,”
In addition, “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.”
David Glander, co-founder of Fubo, said of the deal, “We would like to thank Fubo shareholders for voting to approve our business combination with Disney’s Hulu + Live TV business.”
He added, “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.”
Related: Fubo CEO Calls Fox-Disney-WBD Sports Bundle ‘Borderline Racketeering’
Fubo has been a leader in live-sports streaming for a while now. The company offers 200 channels with the option to add up to 500 channels. It also has the option to join with other streamers including Paramount+ Premium, MGM+ and STARZ.
Currently, Fubo Live Pro is available for $54.99/month after a one-month trial, or $74.99/month for the Elite with Sports Plus subscruption. The platform offers a ton of MLB, NFL and other major sports channels.
The deal with Disney marks another win for Fubo.
Earlier this year, the live-sports company won a lawsuit against the proposed Venu Sports. Fubo had sued the sports company for antitrust violations.
The complaint, ironically against Disney, stated, “These anticompetitive tactics restrain competition from rivals to Disney’s Hulu in the SLPTV market and force independent streaming services such as Fubo to charge higher prices to their customers than they would in a free market.”
Fubo celebrated is 10-year anniversary this year in an Instagram post, sharing photos of where everything began in 2015.
“Time flies when you are changing the game,” the company said in the post. “Whether you used a free trial for one game or have been with us from the start — thank you for a great 10 years!”
The deal with Disney isn’t totally set in stone yet though. The Hollywood Reporter says that it still requires “regulatory approvals and other customary closing conditions for a deal that aims to create a much bigger player in the virtual multichannel video provider to challenge market leader YouTube TV.”
Read Next: Is Fubo’s ‘Skinny’ Sports Bundle Worth it for Avid Sports Fans?
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