Fubo and the Disney-owned Hulu Plus Live TV services will merge their live TV streaming operations, both companies announced on Monday. The Walt Disney Co. will become the majority stakeholder of the combined business,

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.

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.

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 will merge its Hulu + Live TV virtual MVPD with competitor Fubo, expanding its sports-focused distribution while settling a suit over skinny bundle Venu.

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.

Walt Disney Co said on Monday it would merge its Hulu + Live TV business with smaller rival FuboTV , removing a significant hurdle to the launch of its sports streaming venture with Fox Corp and Warner Bros Discovery .

Today, Walt Disney Co. announced that it would be merging its Hulu + Live TV service with Fubo, another of the best cable alternatives out there. While billed as a merger, it seems that Disney has decided to acquire one of its competitors, as the new company formed by this merger will be 70% owned by the House of Mouse.

Hulu+ Live TV and Fubo will merge their internet TV businesses, Disney announced Monday. Disney, which owns Hulu, will be the majority owner of the new Fubo.

These benefits are all hypothetical for now, but any attempt by Fubo and Disney to take on YouTube TV has to mean good things for subscribers: the two streaming services will naturally need to get more competitive to win over YouTube TV subscribers, be it by bolstering the channel list, reducing the price or improving the user experience.

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, confirming an earlier Bloomberg report. With a combined 6.2 million subscribers in North America, the new venture will trail only YouTube TV.