FuboTV stock soars after Disney Hulu + live TV and Disney’s Hulu + streaming service merge.

The Key Takeaways

• Shares of FuboTV more than doubled Monday on news the streaming service will combine with The Walt Disney Co.'s Hulu + Live TV.
• Fubo and Hulu + Live TV will operate as a separate, publicly traded company run by FuboTV CEO and co-founder David Gandler.
• FuboTV has now settled its lawsuit against Venu Sports (the sports streaming service that Disney, FOX and Warner Bros. plan to launch), ending their legal efforts. Discovery.

FuboTV shares have doubled since the news that Hulu + Live TV, a streaming service from The Walt Disney Co.(DIS), will merge with FuboTV.

The company said the deal will see Disney own 70% of Fubo, while "Fubo's existing management team, led by Fubo Co-founder and CEO David Gandler, will operate the newly combined Fubo and Hulu + Live TV."

Gandler says Disney joining forces “allows us to scale effectively, strengthens Fubo’s balance sheet and positions us for positive cash flow.” Gandler called It “a win for consumers, our shareholders, and the entire streaming industry.”

Fubo’s board will consist of independent directors and Disney employees. Gandler is also a board member. Fubo will operate as a publicly traded company under the same ticker symbol, and Fubo and Hulu + Live TV will be available to subscribers separately.

FuboTV ends litigation against Disney, FOX, WBD sports streaming venture

The move will also likely help Disney to open up the doors for its sports streaming venture, which it has with FOX(FOXA), and Warner Bros. Discovery’s (WBD), called Venu Sport, was announced in February. In a statement released today, the company said that all legal actions against these firms have been settled. Disney, FOX, Warner Bros., and Warner Music are also part of this agreement. Discovery will pay Fubo a total of $220,000,000 in cash. 

FuboTV stock has risen 130% recently. Walt Disney’s shares rose 1%. 

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