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Fubo-tv Shareholders Approve Combination with Disney’s Hulu + Live TV Amid Pivot to Profitability By BBC Business Correspondent New York—The sports-focused live TV streaming platform fubo-tv has reached a pivotal moment in its corporate history, with shareholders formally approving a strategic business combination with The Walt Disney Company’s Hulu + Live TV service. This move, which aims to reshape the competitive landscape of US streaming television, comes as fubo-tv announced its first quarter of positive Adjusted EBITDA, signalling a significant shift towards fiscal stability after years of focusing primarily on aggressive subscriber growth. The proposed transaction, initially unveiled in January 2025, received the necessary shareholder endorsement at a special meeting on 30 September. If successful, the deal would see The Walt Disney Company take a controlling stake of approximately 70% in the combined virtual multi-channel video programming distributor (vMVPD) entity. Crucially, the agreement stipulates that the existing fubo-tv management team, led by Co-founder and CEO David Gandler, would continue to operate the merged streaming businesses. Both fubo-tv and Hulu + Live TV are expected to maintain their separate brand identities and programming bundles post-closing, intending to offer a wider array of consumer choices at different price points. The approval, however, is not the final hurdle. The transaction remains subject to substantial regulatory review, including scrutiny from competition authorities to assess the potential impact on the crowded US streaming market. The review is anticipated to focus on whether combining two major vMVPDs creates an undue concentration of rights or anti-competitive leverage in content carriage negotiations.
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“We would like to thank Fubo shareholders for voting to approve our business combination with Disney's Hulu + Live TV business,” said David Gandler, fubo-tv Co-founder and CEO, following the vote. “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. ” A Milestone Quarter: The Shift to Fiscal Focus The corporate restructuring debate is underpinned by a notable improvement in the company's financial health. In its second-quarter 2025 earnings report, released in August, fubo-tv reported its inaugural quarter of positive Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortisation (Adjusted EBITDA), reaching approximately $20. 7 million. This figure represents an increase of over $30 million year-on-year, providing a strong indicator that the company’s sustained strategy to manage content costs and leverage advertising revenue is gaining traction. Furthermore, the company successfully narrowed its net loss to around $8 million for the quarter, a substantial improvement from the $25. 8 million loss reported in the corresponding period of 2024. North American revenue exceeded expectations, reaching $371 million, which company officials attributed to higher Average Revenue Per User (ARPU) and robust advertising sales, despite a 3% year-over-year decrease in North American subscription revenue.
The quarter ended with 1. 36 million paid subscribers in North America, maintaining fubo-tv’s status as a key player, albeit behind market leaders like YouTube TV. The ‘Sports-First’ Strategy Deepens At its core, fubo-tv has positioned itself as the pre-eminent 'sports-first' streaming platform, a strategy it has consistently reinforced. In early October 2025, the company announced it had secured exclusive rights for select UEFA European Qualifiers to the FIFA World Cup 2026™ for its US subscribers, offering five elite matchups as pay-per-view (PPV) events. This focus on premium, niche sports content is seen as a key differentiator against broader entertainment streamers. The company also recently launched a "Fubo Sports Skinny Sports Service," a more affordable, sports-centric package designed to appeal to budget-conscious viewers eager to cut the cord while retaining access to major live athletic events. “Fubo-tv’s recent financial results, specifically the achievement of positive Adjusted EBITDA, are a necessary demonstration that their business model can scale responsibly,” commented Ms. Eleanor Vance, Senior Media Analyst at Lighthouse Global Research. “However, the sheer size and complexity of the proposed Disney combination, and the subsequent regulatory examination, mean the firm remains in a state of flux.
The near-term stock performance will be heavily dictated by signals emanating from the Department of Justice, even more so than subscriber numbers in the current environment. ” The combination, if cleared by regulators, would create a new heavyweight in the vMVPD space, competing directly with established giants and posing strategic questions for rivals. By bringing together Hulu’s broad entertainment library and Disney’s extensive content portfolio with fubo-tv’s dedicated sports and technology platform, the merged entity aims to offer a compelling alternative to traditional cable. Outlook and Market Focus As the streaming sector matures and investors increasingly demand profitability over mere growth, fubo-tv’s improved financial metrics provide a crucial layer of stability during the high-stakes regulatory process. The market will now pivot its attention to the forthcoming earnings report, currently slated for early November, which will provide the first look into the company's financial performance since the shareholder vote. Ultimately, fubo-tv is navigating a dual challenge: executing its long-stated goal of profitability through strategic content bundling and cost controls, while simultaneously managing the complex regulatory timeline of a major corporate restructuring. The outcome of the antitrust review will determine the scale and future trajectory of the combined service, but for now, fubo-tv has demonstrated a renewed focus on fiscal discipline in a demanding industry.
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