MUMBAI: In the enchanted realm of acquisitions, The Walt Disney Company has long been the master storyteller, weaving tales of strategic mergers and blockbuster stakes. With 20 acquisitions averaging $8.71 billion each, Disney has shaped industries and redefined entertainment. Its canvas stretches across four countries, with key brushstrokes in India and the United States. But as the curtain rises on 2025, the entertainment giant pens its boldest chapter yet.
Disney is acquiring a 70 per cent majority stake in Fubo, the sports-centric streaming platform, and merging it with Hulu + Live TV. This landmark merger will create a new public entity under the Fubo name, poised to challenge the virtual MVPD throne. The deal not only fortifies Disney’s streaming empire but also redraws the map for how audiences consume live sports and entertainment.
Stay tuned—Disney’s magical kingdom of streaming just got a lot more competitive
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| From L to R: Disney executive vice president and head of corporate development Justin Warbrooke; Fubo co-founder & CEO David Gandler |
The combined platform will bring together 6.2 million subscribers across North America, offering a robust catalogue of live sports, entertainment, and broadcast content. The current Fubo leadership team, led by co-founder and CEO David Gandler, will manage the merged operations.
Speaking on the merger, Gandler said, “We are thrilled to collaborate with Disney to create a consumer-first streaming company that combines the strengths of the Fubo and Hulu + Live TV brands. This combination enables us to deliver on our promise to provide consumers with greater choice and flexibility. Additionally, this agreement allows us to scale effectively, strengthens Fubo’s balance sheet, and positions us for positive cash flow.”
Disney executive vice president and head of corporate development Justin Warbrooke added, “This combination will allow both Hulu + Live TV and Fubo to enhance and expand their virtual MVPD offerings, providing consumers with even more choice and flexibility. We have confidence in the Fubo management team and their ability to grow the business, delivering high-quality offerings that serve subscribers with the content they want and offering great value.”
The deal also resolves the litigation between Fubo and Disney, Fox, and Warner Bros Discovery (WBD). As part of the settlement, the three media firms will pay $220 million to Fubo. Disney will also extend a $145 million term loan to Fubo in 2026.
The agreement includes a new carriage deal allowing Fubo to create a "sports and broadcast" service featuring Disney-owned properties such as ABC, ESPN, ESPN2, ESPNU, SECN, ACCN, and ESPN+.
Upon regulatory and shareholder approvals, the merged entity will be governed by a board of directors, with Disney appointing the majority. Gandler will retain his role as CEO and serve on the board.
The companies aim to leverage synergies through flexible programming, innovative offerings, and enhanced marketing strategies, setting a new benchmark in the streaming industry.
With this merger, Disney and Fubo seek to deliver value to subscribers by combining Hulu + Live TV’s expansive content portfolio with Fubo’s sports-centric programming. This merger also strengthens Fubo’s balance sheet and positions the platform for sustainable cash flow and operational growth.
The first ball in this high-stakes streaming game is expected to roll once all approvals are finalised, opening a new chapter in virtual MVPD offerings.
