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Fubo Hits 1.7M Subscribers In Mixed Q4, Hails Pending Acquisition By Disney; Stock Plunges 20%
Pay-TV provider Fubo posted mixed fourth-quarter results and declined to offer much comment on its
Pay-TV provider Fubo posted mixed fourth-quarter results and highlighted its pending acquisition by Disney during a conference call with Wall Street analysts. Joining forces with Disney is “a game-changing opportunity to establish a leading streaming company that prioritizes consumer choice, flexible packages, and a cutting-edge experience,” Fubo said in its quarterly shareholder letter. The service will fulfill the original mission of Fubo, which argued in its lawsuit that it had set out years before Venu to offer a streamlined pay-TV bundle designed for sports-focused viewers, only to be thwarted by programmers insisting that it carry non-sports networks.
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