BUZZ-FuboTV jumps on report nearing deal with Disney to merge online live TV businesses
Shares of FuboTV FUBO.N jump 31.9% to $1.90 premarket
Walt Disney DIS.N and the sports streaming provider are nearing a deal to combine their online live TV businesses, Bloomberg News reports, citing people familiar with the matter
DIS shares up 0.3% at $111.50 premarket
Disney will fold its Hulu + Live TV business into Fubo, creating a new venture as part of the deal - report
New venture will be 70% owned by Disney and rest by Fubo
Deal will not include Hulu's subscription video business - report
Fubo plans to drop its legal claims against Disney, Fox Corp FOXA.O and Warner Bros. Discovery WBD.O over Venu Sports as part of the deal
FUBO slumped ~60% in 2024
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
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