NEW YORK — As expected, shareholders of NYSE-traded FuboTV Inc., parent of the eponymous “sports-first” virtual MVPD platform, have approved the company’s previously announced transaction with The Walt Disney Company that effectively combines Fubo’s business with the Hulu + Live TV business.
Fubo’s shareholders gave its affirmative nod on Tuesday at a special shareholders meeting. Now, it just needs to pass muster with federal regulators.
Terms call for Disney to own approximately 70% of Fubo. Its existing management team, led by Fubo co-founder and CEO David Gandler, will operate the newly combined Fubo and Hulu + Live TV businesses.
Fubo and Hulu + Live TV will continue to be available to consumers as separate offerings post-closing.
The outstanding shares of Class A Common Stock will continue to trade on the New York Stock Exchange under the ticker symbol “FUBO.”
“Today we are one step closer to fulfilling our vision of a streaming marketplace that provides consumers with greater choice and flexibility,” Gandler said.
