In a surprising deal announced on Monday, Disney is set to combine its Hulu Live TV business with Fubo, the live TV streaming service known for its extensive sports coverage. Under the terms of the deal, Disney will own about 70% of Fubo, which will continue to be available to viewers as a separate offering.

The deal will create a streaming multichannel video service that is second only to YouTube in scale, while potentially allowing the Venu service to move forward.

Disney and FuboTV on Monday announced a planned merging of Hulu Live + TV and Fubo. Disney will have a 70% ownership stake in Fubo when the deal closes.

Fubo will be combined with Hulu's live TV service and offer a new streaming package with ABC and ESPN channels.

Disney's Hulu + Live TV and sports streaming service Fubo are combining in a deal that will also see the settlement of a lawsuit against the creation of Venu Sports. Fubo and Hulu + Live TV both allow customers to stream live broadcast and cable networks on their connected TVs,

Disney announced a deal with pay-TV provider Fubo to combine Hulu + Live TV with Fubo's operations in a joint venture, ending Fubo's Venu lawsuit.

Shares of FuboTV Inc. skyrocketed Monday after the company announced a deal to combine Walt Disney Co.’s Hulu + Live TV service with Fubo.

Hulu and sports-forward streamer Fubo are settling aside some legal differences and teaming up in order to launch yet another new platform for you to subscribe to. Last year, Fubo filed a lawsuit against Disney (which co-owns Hulu),

As part of the transaction, Disney will fold its Hulu + Live TV business into Fubo, creating a new venture that will be 70% owned by Disney and the rest by Fubo, Disney said in a statement on Monday,

The deal comes after Fubo sued Disney over a new streaming venture. The post Disney has struck deal to merge Fubo TV with Hulu + Live TV appeared first on The Manual.