Fubo and Disney Complete Merger, Forming Sixth Largest U.S. Pay TV Company with Nearly 6 Million Subscribers

Fubo and The Walt Disney Company have officially finalized their previously announced transaction to combine Fubo's live sports platform with Disney's Hulu + Live TV business. The completion of this deal, as announced by TechCrunch, establishes a new entity poised to become a significant player in the virtual multichannel video programming distributor (vMVPD) market. This strategic move aims to enhance streaming offerings for consumers and drive growth for both companies.

Under the terms of the agreement, Disney now holds an approximately 70% interest in the newly combined company, with existing Fubo shareholders retaining about 30%. The integration creates the sixth largest Pay TV company in the U.S., boasting nearly 6 million subscribers across North America. Both Fubo and Hulu + Live TV will continue to operate as separate and distinct services, providing consumers with diverse plan options.

The combined business anticipates realizing substantial cost, revenue, and operational synergies through more flexible programming packaging, optimized advertising sales, and expanded marketing opportunities. The new entity will offer an extensive content library, including over 55,000 live sporting events, alongside entertainment programming from both platforms. Hulu + Live TV will remain part of a bundle with Hulu, Disney+, and ESPN Unlimited.

Fubo's existing management team, led by Co-founder and CEO David Gandler, will operate the combined Fubo and Hulu + Live TV businesses. Andy Bird, former Chairman of Walt Disney International, has been appointed as the independent Chairman of the new Fubo board of directors. Additionally, Disney has committed to providing a $145 million term loan to Fubo in 2026 as part of the transaction.

Regulatory clearance for the transaction was granted by the Justice Department’s Antitrust Division, despite initial concerns about market consolidation. Fubo's advertising sales group will transition to Disney’s advertising sales organization, further integrating operations. This combination is set to impact the competitive landscape of live streaming services, which includes rivals like Google’s YouTube TV.

"Together with Disney, we’re creating a more flexible streaming ecosystem that gives consumers greater choice, while driving profitability and sustainable growth," stated David Gandler, Co-founder and CEO of Fubo. Andy Bird added, "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 companies expect this merger to deliver scale, stability, and strategic clarity for shareholders and consumers alike.