In a major shake-up of the streaming industry, The Walt Disney Co. has completed its merger of Hulu + Live TV with FuboTV Inc., taking a 70% stake in the newly combined enterprise.
The new company — retaining the Fubo brand and ticker symbol — boasts nearly 6 million subscribers in North America, making it the second-largest virtual pay-TV provider in the U.S., trailing only YouTube TV, which counts more than 10 million paying subscribers.
Under the terms of the deal announced in January and now formally closed, Fubo dropped its antitrust lawsuit seeking to block the proposed sports-streaming venture Venu Sports, a joint effort among Disney, Fox Corp., and Warner Bros. Discovery that has since been dissolved.
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