FuboTV gets Wall Street upgrade as NBCUniversal returns, World Cup fuels demand

FuboTV Inc. posted all-time high revenue for its fiscal second quarter following its merger with Disney’s Hulu + Live TV. Still, the live-TV streaming service saw subscriber losses in North America—a setback for a deal aimed at boosting its standing against bigger internet pay-TV players.

FuboTV’s combination with Disney’s Hulu Live marks a game-changing alliance in the streaming wars. The merger, announced in January and now completed in late October, instantly scales up Fubo’s business. The combined entity boasts nearly 6 million subscribers, making it the 6th largest pay-TV provider in the U.S. investing.com. Under the deal, Disney took a ~70% ownership stake, while existing Fubo shareholders retain ~30% investing.com. “Together with Disney, we’re creating a more flexible streaming ecosystem that gives consumers greater choice, while driving profitability and sustainable growth,” said Fubo co-founder and CEO David Gandler of the partnership investing.com.