Fubo’s shareholders have signed off on the company’s proposed transaction with the Walt Disney Company to combine its virtual pay television business with Hulu with Live TV, the companies confirmed Monday.
The deal, first announced in January, was approved during a special meeting of Fubo shareholders on September 30. The company said it will report the outcome of that meeting in a filing with the Securities and Exchange Commission. The merger is still subject to regulatory review and other customary closing conditions.
Once finalized, the combination will create a streaming service with a joint subscriber base of 5.7 million. Under terms of the agreement, Disney will hold a controlling interest of around 70 percent in the new venture. David Gandler, co-founder and chief executive of Fubo, will remain in charge of day-to-day operations across both the Fubo and Hulu with Live TV businesses.
Despite the merger, both brands will continue to operate as separate offerings. Executives said the decision was intended to preserve consumer choice by offering a variety of programming packages at competitive price points.
“We would like to thank Fubo shareholders for voting to approve our business combination with Disney’s Hulu with Live TV business,” Gandler said in a statement. “The transaction remains subject to regulatory approvals and other customary closing conditions, but today we are one step closer to fulfilling our vision of a streaming marketplace that provides consumers with greater choice and flexibility.”
Fubo confirmed that all issued and outstanding shares of its common stock will be automatically converted into Class A common stock once the deal closes. Those shares will remain listed on the New York Stock Exchange under the ticker symbol “FUBO.”
The agreement marks a significant milestone for Fubo, which has marketed itself as a sports-first live-streaming platform since its launch. Combining with Hulu with Live TV, the second-largest virtual multichannel video programming distributor in the United States, will give Fubo access to a broader portfolio of entertainment, news, and general interest programming.
Hulu with Live TV has been a central part of Disney’s direct-to-consumer strategy in recent years, alongside Disney Plus and ESPN Plus. By merging with Fubo, Disney stands to strengthen its position in the live-streaming space while spreading the operational responsibilities across an experienced management team.
The deal also comes as consolidation accelerates in the pay television sector, with traditional broadcasters and cable companies competing against digital-first entrants. Fubo’s integration with Hulu with Live TV will be closely watched by regulators, particularly as the combined business becomes one of the largest internet-delivered pay TV providers in the country.
No timetable has been given for the transaction’s completion. The deal also requires the approval of federal regulators, some of whom are scrutinizing the transaction.
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