Two of the biggest live TV streaming services in the U.S. have completed a merger as Disney has closed a deal with Fubo. The agreement combines Hulu + Live TV and Fubo to create a platform with more than 55,000 live sporting events, and entertainment-focused programming offerings.
The merger creates the second-largest virtual pay-TV provider in the United States, with nearly 6 million subscribers, trailing only YouTube TV. The transaction significantly consolidates Disney’s power in the live TV streaming space and positions it well against its main competitor. While exact figures aren’t available, according to The Hollywood Reporter, YouTube TV has approximately 10 million subscribers.
“Since Fubo’s founding a decade ago, our vision has always been to build a consumer-first streaming platform defined by innovation and value,” said Fubo co-founder and CEO David Gandler in a statement. “Together with Disney, we’re creating a more flexible streaming ecosystem that gives consumers greater choice, while driving profitability and sustainable growth.”
Disney holds a 70% stake in the newly combined company, with existing Fubo shareholders retaining the remaining 30%.
Though operationally integrated in some ways, the companies stressed that Fubo and Hulu + Live TV will continue to be offered as “separate and distinct services” to consumers. For instance, Hulu + Live TV will continue to be offered in its own app and can still be bundled with Disney+ and ESPN Unlimited, according to Variety.
However, significant operational integration is planned. Fubo’s advertising sales group will be absorbed into Disney’s larger advertising sales organization.
The combined entity expects to achieve major cost savings and synergies through more flexible content packaging, advertising optimization, and new marketing opportunities.
The new company’s leadership and financial structure underscore Disney’s influence. Gandler will continue to operate the combined businesses, but the board’s chairman is Andy Bird, a former chairman of Walt Disney International.
“It is a privilege to join Fubo as Chairman at such a transformative time for the company,” said Bird. “Today’s announcement brings together two industry leading brands and a compelling set of resources that uniquely position us to meet the evolving needs of today’s consumer.”
The board also includes several other current Disney executives. Furthermore, Disney has committed to providing Fubo with a $145 million term loan in 2026, solidifying its financial control and investment in the new entity’s future.
Generative AI was used to produce an initial draft of this story, which was edited and expanded by MLive staff.
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