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Disney Inks Deal to Merge Hulu Live TV With Fubo, Ending Lawsuit Seeking to Block Venu Sports Streamer
Disney announced a deal with pay-TV provider Fubo to combine Hulu + Live TV with Fubo's operations in a joint venture, ending Fubo's Venu lawsuit.
Under the deal, Fubo will drop its lawsuit seeking to derail Venu, the sports-focused streaming package from Disney, Fox Corp. and Warner Bros. Furthermore, a deal-breakup fee of $130 million will be payable to Fubo under certain circumstances, including if the transaction fails to close due to the failureto obtain requisite regulatory approvals on the terms and conditions in the agreement. “This combination will allow both Hulu + Live TV and Fubo to enhance and expand their virtual MVPD [multichannel video programming distributor] offerings and provide consumers with even more choice and flexibility,” Justin Warbrooke, executive VP and head of corporate development for Disney, said in a statement.
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