Fubo And Hulu Live TV Merger Approved By Fubo Shareholders

The Fubo and Hulu Live TV merger has now received approval from Fubo shareholders. While one step closer to completion, the deal is still subject to regulatory approval, including a closer look by the DOJ.

At the start of this year, Disney and Fubo confirmed plans to join forces by combing the Fubo and Hulu Live TV businesses. As is typically the case with transactions like this, the merger still requires the passing of various hurdles.

Shareholder approval is one of those hurdles, albeit one that has now been overcome. The transaction was approved by Fubo’s shareholders at a special meeting held earlier today.

“We would like to thank Fubo shareholders for voting to approve our business combination with Disney’s Hulu + Live TV business,” said David Gandler, co-founder and CEO, Fubo.

According to Fubo, the results of the special meeting will be reported via a Form 8-K to be filed with the Securities and Exchange Commission.

As previously explained, and providing the merger closes as expected, Disney will own approximately 70% of Fubo, while Fubo’s existing management team will operate the newly combined Fubo and Hulu Live TV businesses.

While shareholder approval is a major step forward, there are still a number of other regulatory approvals that will need to be overcome before the transaction completes. In April, for example, the U.S. Department of Justice indicated plans to take a closer look at the merger and its impact.

In spite of being a major consolidation move in general, Fubo and Hulu Live TV are expected to continue to be available as separate options following completion of the merger.