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Disney Closes Deal to Combine Fubo and Hulu Live TV

The merger creates the sixth largest U.S. pay TV service with nearly 6 million subscribers and Disney holding a 70% stake in the combined company.

  • On Wednesday, FuboTV and The Walt Disney Company closed their merger, creating the nation’s sixth-largest pay-TV service with nearly 6 million subscribers in North America.
  • Born from litigation, FuboTV's antitrust suit over the Venu Sports joint venture ended with a $220 million settlement from Disney-Fox-Warners, prompting executives to pursue deals including Hulu's live-TV business.
  • Disney now controls a roughly 70% stake in the combined business, with Fubo shareholders retaining 30%, and FuboTV will trade under the FUBO ticker with access to a $145 million term loan from Disney in 2026.
  • Both Hulu + Live TV and FuboTV will continue as standalone consumer offerings with separate apps and bundles, and the companies expect savings via flexible programming packaging and ad optimization.
  • Fubo's ad sales group will join Disney's advertising sales organization, and the combined company shifted its fiscal year to end Sept. 30, with DOJ Antitrust Division clearance.
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Adweek broke the news in on Wednesday, October 29, 2025.
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