Disney and Fubo have agreed to merge, the companies announced Monday, marking a win for the entertainment giant in the world of streaming sports.
Fubo, a platform that offers sports-first packages of live TV streaming channels that it touts as being cheaper than traditional cable bundles, will be integrated with Disney's Hulu + Live TV business as part of the deal.
The deal is worth more than $200 million and ends months of litigation between Fubo and Disney.
News of the agreement Bloomberg first reported.
The company sued Disney last year, along with Fox and Warner Bros. Discovery, alleging anticompetitive practices over its planned consumer streaming joint venture Venu.
As part of Monday's deal, Fubo has settled all lawsuits with Disney and ESPN related to Venu Sports, a planned and previously announced sports streaming platform by ESPN, FOX and Warner Bros. Discovery. ” Disney said.
Disney, like every major legacy media company, has been shifting more resources from its linear TV properties to streaming in recent months.
