Why fuboTV Stock Tripled Today
Shares of fuboTV (NYSE: FUBO), the struggling sports streaming service, were skyrocketing today after the company agreed to merge fuboTV with Hulu + Live TV, owned by Walt Disney (NYSE: DIS), under the fuboTV name and ticker.
FuboTV will own 30% of the new company, while Disney will own 70%.
The investor response isn’t surprising, as fuboTV had been struggling to turn a profit, and a merger seems like the best result for investors.
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