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.

Former competitors Hulu + Live TV and Fubo will still be offered to consumers separately, but will now be traded together publicly under the Fubo name. Disney will control 70% of the venture, but it will be run by Fubo CEO and co-founder David Gandler.

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

Disney is set to combine its Hulu + Live TV offering with Fubo, the companies announced on Monday, effectively ending their litigation over the planned combined sports streaming offering Venu from Disney, Fox and Warner Bros. Discovery.

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),

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.