BUZZ-FuboTV jumps on deal with Disney to merge online live TV businesses
Updates
** Shares of FuboTV FUBO.N jump 165.3% to $3.78 premarket
** Walt Disney DIS.N to combine its Hulu + Live TV business with Fubo and become majority owner of the resulting company, companies say
** DIS shares up 0.5% at $111.70 premarket
** The combined business will operate under the Fubo publicly traded company name led by the existing Fubo management team; Fubo and Hulu + Live TV will continue to be available to consumers as separate offerings
** Fubo has settled all litigation with Disney and ESPN related to Venu Sports, a sports streaming platform planned by DIS, Fox FOXA.O and Warner Bros. Discovery WBD.O
** DIS, Fox, and WBD will make an aggregate cash payment to Fubo of $220 mln
** DIS has committed to provide a $145 mln term loan to Fubo in 2026 as part of the transaction
** FUBO shares slumped ~60% in 2024
(Reporting by Jaspreet Singh in Bengaluru)
((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))
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