Walt Disney (DIS.US) and the Sports-focused streaming provider FuboTV (FUBO.US) announced on Monday that the two companies have agreed to merge their online live Television businesses Hulu + Live TV and Fubo. The news caused FuboTV's stock price to soar 121% in the early part of Monday.
Disney will hold 70% of the shares in the merged company, with the existing Fubo management team leading the business.
At the same time, Fubo and Disney have resolved the lawsuit that blocked the launch of Venu, a Sports streaming service proposed by Disney, Flowserve (FOX.US), and Warner Bros. Discovery (WBD.US).
