Disney and FuboTV on Monday announced a planned merging of Hulu Live + TV and Fubo.
The two businesses will form a combined virtual multichannel video programming distributor (MVPD) company that "will operate under the Fubo publicly traded company name," the companies said.
Disney will have a 70% ownership stake in Fubo.
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The combination "will facilitate an enhanced choice of programming packages and address a variety of consumer preferences at attractive price points," according to Disney and Fubo.
After completion of the deal, consumers will still have the option to get Fubo and Hulu + Live TV as "separate offerings," the companies also said.
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Fubo shares surged Monday morning on the news.
