FuboTV Inc. and The Walt Disney Company announced the completion of a business combination, resulting in the creation of a unique virtual MVPD (VMVPD) and the sixth-largest pay TV company in the U.S. with nearly 6 million subscribers in North America.
The combined company will continue to offer Fubo and Hulu + Live TV as separate and distinct services, each providing consumers with multiple plan options at different price points. The newly formed board of directors, with Andy Bird as Chairman, will guide the strategic direction of the company.
The combined business is expected to realize cost, revenue, and operational synergies through various means, including content cost savings achieved by more flexible programming packaging, advertising optimization, and sales and marketing opportunities. Additionally, the combined company will have access to a $145 million term loan that Disney has committed to provide to Fubo in 2026 as part of the transaction.
As part of the transaction, Disney will hold an approximately 70% interest in the combined company, with existing Fubo shareholders holding an approximately 30% interest.
The board of directors includes individuals with significant operational experience across finance, media, entertainment, and sports in global markets, such as Andy Bird, David Gandler, Daniel Leff, Ignacio "Nacho" Figueras, Jonathan S. Headley, Jim Lygopoulos, Debra O'Connell, Cathleen Taff, and Justin Warbrooke.
All of Fubo’s issued and outstanding shares of common stock were automatically converted into issued and outstanding shares of class A common stock on a 1:1 basis. The outstanding shares of class A common stock continue to trade on the New York Stock Exchange under the ticker symbol FUBO.
The combined company changed its fiscal year to end on September 30, with the first full year following closing to end on September 30, 2026.
Wells Fargo served as the lead financial advisor to Fubo, while Latham & Watkins LLP served as legal advisor to Fubo. Centerview Partners LLC served as financial advisor to The Walt Disney Company, with Cravath, Swaine & Moore LLP serving as primary legal counsel.
Fubo will address the transaction on its third-quarter 2025 investor conference call, scheduled for Monday, November 3, 2025, at 8:30 a.m. ET.
FuboTV Inc. (NYSE: FUBO) is a consumer-first live TV streaming company, while The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international entertainment and media enterprise.
As a result of these announcements, the company's shares have moved 1.68% on the market, and are now trading at a price of $3.64. If you want to know more, read the company's complete 8-K report here.
