FuboTV and Hulu Live Merger Creates Second Largest Internet TV Provider
New York, Monday, 26 January 2026.
Disney acquires a 70% stake in the combined FuboTV and Hulu Live entity, instantly creating the market’s second-largest streaming TV provider with nearly six million subscribers.
Operational Structure and Leadership
The transaction, which officially closed recently, places FuboTV’s co-founder and CEO David Gandler at the helm of the combined businesses [1]. While the two platforms will continue to operate as separate and distinct services with unique tier options, the integration grants Disney a controlling 70% interest in the new entity [1][2]. This structural shift allows the companies to explore synergies in programming packaging and advertising sales without dissolving the individual brand identities that consumers recognize [1][3].
Market Scale and Subscriber Base
By joining forces, the entities now command a subscriber base of approximately 6.2 million across North America, cementing their status as the second-largest virtual pay-TV provider in the United States [1][3]. This scale is significant, though it still trails the market leader, YouTube TV, which boasts 10 million paying subscribers [1]. The combined offering is set to provide access to over 55,000 live sporting events, effectively realizing Disney’s ambition for a comprehensive sports streaming application [1].
Consolidation Amidst Legal Resolutions
The merger also brings a definitive end to the antitrust litigation FuboTV had previously filed against Disney, Fox, and Warner Bros. Discovery regarding the ‘Venu Sports’ venture [1][3]. As part of the settlement, the media giants agreed to pay FuboTV a combined $220 million [1]. Furthermore, to bolster the new partnership’s liquidity, Disney is providing an additional $145 million loan to FuboTV, extending through 2026 [3]. This capital injection is crucial as the company navigates its integration with Hulu Live.
Share Structure and SEC Filings
On Friday, January 23, 2026, FuboTV filed prospectus supplements with the SEC regarding the potential resale of up to 947,910,220 shares of Class A common stock by Hulu, LLC [4][5]. These shares are issuable under a Registration Rights Agreement dating back to October 29, 2025 [4]. While this filing facilitates liquidity for the major stakeholder, it allows for the conversion of other FuboTV securities, including Class B common stock and units in Fubo Operations LLC [4].
Financial Challenges Persist
Despite the enhanced market leverage, FuboTV faces immediate financial headwinds. Recent data indicates the company has not been profitable over the last twelve months and holds a concerning current ratio of 0.02 [4]. The stock has reflected these struggles, trading at $2.48 per share and registering a decline of 32.24% over the past six months [4]. While the merger offers a pathway to improved margins through scale, the company must address its persistent cash flow issues to stabilize its long-term investment outlook [2][6].