The Walt Disney company has announced a deal that merges Hulu + Live TV with Fubo to create a newly combined company.

Fubo will also handle deals with channels independently, giving them more flexibility to offer sports and entertainment options. The company will be traded publicly under the name

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 has entered a definitive agreement with Fubo which will be combined with their Hulu + Live TV. The agreement also terminates Fubo's lawsuit with Disney Sports.

Walt Disney Co. agreed to merge its Hulu + Live TV streaming service with the online sports-focused company FuboTV Inc., creating the ... the new venture will trail only YouTube TV.

Walt Disney will soon be a majority owner of sports-focused streaming television brand FuboTV. The agreement, however, subtly but significantly favors Walt Disney by virtue of offering it an array of future options.

The merger, which will create the second-largest online live television platform behind YouTube TV, brings a close to Fubo's antitrust case over ESPN, FOX and Warner Bros. Discovery's proposed Venu streaming platform.

The agreement ends litigation between the two companies over plans for a sports streaming service, but consumer advocates are pushing back.

The merger with Disney's Hulu+ Live TV and FuboTV will increase the subscriber base to 6.2 million improving scale and competitive positioning. Learn more on FUBO stock here.

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