Did Disney Just Save fuboTV?
Every sports fan enjoys a good comeback story, and this week, it seems as if fuboTV (NYSE: FUBO) is the underdog, emerging as the unlikely winner. Shares of the sports-centric streaming TV platform soared on Monday after Disney (NYSE: DIS) confirmed reports that it is combining its Hulu-branded live-TV streaming service with fuboTV’s comparable offering.
Disney isn’t acquiring fuboTV to make this happen. FuboTV is not the latest Disney princess. The two media companies of divergent sizes are coming together as a joint venture that will combine Disney’s Hulu-branded live-TV streaming business with fuboTV’s smaller platform. Disney will retain a 70% stake in the combined operations. FuboTV will own the smaller piece, but its management team will lead the way.
There’s a method to the Mouse-ness. Disney has run into legal resistance in its plan to form the mother of all sports-streaming apps. Its majority-owned ESPN sports programming juggernaut joined forces with Fox and Warner Bros. Discovery to introduce Venu, a streaming service that was set to launch in the fall of last year.
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