Fubo shareholders give thumbs-up to Hulu + Live TV merger
Fubo shareholders give thumbs-up to Hulu + Live TV merger
The move is an important step in the process for the two streamers, but there are other obstacles to sort out.
The merger of Fubo and Hulu + Live TV has taken a big step forward. The two live TV streaming services first announced they would combine under the same ownership structure in January, and the process has been inching along ever since. On Tuesday, Fubo released a statement informing the public that its shareholders had given their consent for the merger to move ahead.
Key Details:
- Closed loop: Fubo first filed paperwork with the SEC about a shareholder vote in late July.
- Scrutiny ahead: The Department of Justice is expected to look at the merger for antitrust concerns.
- Lots of options: If the deal closes, Hulu and Fubo could make big changes to the way they offer channel plans.
Fubo announced in its press release that shareholders had approved the merger transaction with Disney, which will see its streaming service merge with Hulu + Live TV. A special 8-K form to be filed with the Securities and Exchange Commission (SEC) will go into more detail about the results of the vote.
The approval process was initiated in late July, when Fubo told the SEC it planned to hold a vote on the merger. Investors have signed off, but there are still major hurdles to clear before the deal is brought in for a landing.
Regulatory approval is still pending, and the Trump administration has proven that the process can be anything but easy at times. In April, the Department of Justice pledged to probe the merger for antitrust violations, and if Disney or Fubo make any moves that anger the administration over the course of the next few months, they could face stiff resistance.
For now, however, the approval of the deal by Fubo shareholders is an important step. If the agreement is consummated in the end, it could lead to Fubo sunsetting some plans, leaving the larger channel packages to Hulu to distribute while it focuses on the Fubo Sports service, which recently launched.
Those are questions for the future, however. What we know for sure is that the merger of Fubo and Hulu + Live TV has the ascent of Fubo shareholders, which was a key step in the process of their combining.
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Fubo
Fubo is a live TV streaming service offering a robust lineup of approximately 150 premier channels, with plans starting at $63.99 per month. This entry-level package provides access to local broadcast affiliates 18 of the leading 35 cable channels channels, and valuable regional sports networks (RSNs).
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Hulu Live TV
Hulu Live TV is a live TV streaming service with more than 70 channels for $89.99 per month. Hulu + Live TV base plan includes local channels 32 of the top 35 cable channels, and regional sports networks (RSNs). Subscribers get free access to Disney+ and ESPN Select at no extra charge.
