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Hulu + Live TV and Fubo merged into one business—but remain separate streaming services

Disney and Fubo completed their Hulu + Live TV business combination, but customers still use separate Hulu and Fubo services. Learn what changed, who owns what and whether you need to switch.
From TheFinanceBase Team7 min to read
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Yes, the deal is real and closed on October 29, 2025. Disney’s Hulu + Live TV business and Fubo now operate within one publicly traded company, FuboTV Inc. (NYSE: FUBO). But this was a corporate business combination, not the launch of one combined consumer app: Hulu + Live TV and Fubo remain separately branded services with separate apps and subscription options.

For subscribers, the practical answer is simple: you do not automatically become a customer of the other service, and there is no verified requirement to switch accounts or apps.

The deal in one chart

Question Answer
Was the transaction real? Yes. Disney and Fubo announced a definitive agreement on January 6, 2025, and announced completion on October 29, 2025.
What became part of the deal? Fubo’s existing business and Disney’s Hulu Live Business—the live, multichannel portion of Hulu.
Public-company structure FuboTV Inc., traded as NYSE: FUBO.
Disney’s ownership at closing Approximately 70% of the combined company; existing Fubo shareholders held approximately 30%.
One combined app? No. Hulu + Live TV remains in the Hulu app and Fubo remains in the Fubo app.
One automatic combined subscription? No. The services continue to be sold separately.
Latest located North American paid-subscriber figure 5.7 million for the quarter ended March 31, 2026, according to Fubo’s May 6, 2026 results release.

Sources: transaction announcement and closing announcement.

What actually merged—and what did not

The transaction combined Fubo’s live-TV streaming operation with Disney’s Hulu Live Business. It did not transfer all of Hulu, all Hulu on-demand programming or the entire Disney streaming operation into Fubo. Regulatory and company filings describe the transferred business as the live, multichannel service and related operating, commercial, advertising and distribution arrangements.

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That distinction matters because “Disney sold Hulu to Fubo” is inaccurate. Disney retained its broader Hulu and Disney streaming businesses while contributing the Hulu Live Business to the combined company. The transaction documents are filed in the agreement materials and Fubo’s annual filing.

Who owns and runs the combined company?

Disney became the majority owner, with approximately 70% at closing. Existing Fubo investors retained approximately 30%. Fubo’s existing management, led by co-founder and chief executive David Gandler, continued to run the company, and Andy Bird was announced as board chair. The company continues to trade under Fubo’s name and ticker, NYSE: FUBO. These are corporate ownership facts, not a change to the names customers see when they watch television.

What the transaction means for Hulu + Live TV subscribers

  • Your Hulu + Live TV subscription does not automatically turn into a Fubo subscription.
  • Hulu + Live TV continues to be delivered through Hulu.
  • There is no stated requirement to create a Fubo account, migrate billing or change apps.
  • Pricing, promotions and channel availability remain dependent on the Hulu plan, location and applicable rights agreements.
  • Fubo and Hulu may cross-promote products, but cross-promotion is not the same as receiving both services for one price.

Fubo’s customer-support explanation says the combination does not automatically replace existing subscriptions or create a mandatory combined plan. Read the guidance at Fubo’s support page.

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The first visible Hulu-side integration

On February 10, 2026, Hulu + Live TV added Fubo Sports Network to its channel lineup. Fubo’s announcement described it as included in Hulu + Live TV’s core plan priced at $89.99 per month at the time of that announcement. That figure is not a guaranteed current price: Fubo says prices can change, and taxes and regional restrictions may apply. Check Hulu’s live-TV page before subscribing.

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What the transaction means for Fubo subscribers

  • Fubo remains a separately branded service delivered through the Fubo app.
  • A Fubo customer does not automatically receive Hulu + Live TV or Hulu’s full on-demand catalog.
  • Fubo can continue offering sports-focused plans, add-ons and Latino products under the Fubo brand.
  • Some channels or programs you want may still require a separate Hulu + Live TV subscription because lineups depend on plan, market and licensing rights.

In its May 6, 2026 results announcement, Fubo said Hulu Live programming packages were available through Fubo’s aggregated e-commerce flow. That can make comparing or selecting products easier, but it does not turn the services into one application or eliminate separate subscription charges. See the company results release.

Why Disney and Fubo combined

The companies presented the transaction as a way to build scale in live television, offer more flexible programming packages, reduce or manage content costs, improve advertising economics and broaden sales and marketing opportunities across sports, news and entertainment.

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The deal also resolved litigation between Fubo and Disney related to the proposed Venu Sports service. That settlement was part of the transaction; it was not a promise that Venu, Fubo and Hulu + Live TV would become one consumer product.

Subscriber figures in the announcements are historical reference points, not a permanent current total. The January announcement cited more than 6.2 million North American subscribers, while the closing announcement said nearly 6 million. Those numbers use different reporting moments and presentations.

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What has changed so far

Confirmed customer-facing changes

  • February 10, 2026: Fubo Sports Network was added to Hulu + Live TV’s lineup, with the announcement describing inclusion in the then-reported $89.99 core plan. Source: Fubo’s announcement.
  • May 6, 2026: Fubo said Hulu Live packages were available in its aggregated online shopping flow. Source: Fubo’s fiscal 2026 results release.

What has not been confirmed

  • A unified Fubo-Hulu app.
  • A single mandatory subscription or automatic bundle discount.
  • Automatic account migration, billing changes or plan replacement.
  • Every Fubo channel being added to Hulu + Live TV, or every Hulu channel being added to Fubo.

Corporate economics behind the consumer brands

The combined company’s financial arrangements help explain why ownership can be unified while the products remain distinct. Disney committed to provide Fubo access to a $145 million term loan in 2026 as part of the transaction. Hulu pays Fubo a wholesale fee for distributing the Hulu Live Service; Fubo’s filing describes the fee as initially 95% of Hulu Live’s carriage-fee expenses for 2025 and 2026, rising to 97.5% in 2027 and 99% in 2028 and later. Disney affiliates also sell advertising for Fubo and Hulu Live under commercial arrangements and share advertising revenue.

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Those are company-level economics. They are not a subscriber rebate, a guaranteed price cut or evidence that customers receive both services at no extra charge. The arrangements are described in Fubo’s SEC filing and the company’s closing announcement.

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Latest reported scale and performance

The latest located company-reported results, released May 6, 2026 for the quarter ended March 31, 2026, included both Fubo and Hulu + Live TV:

  • 5.7 million North American paid subscribers.
  • $1.566 billion in North American quarterly revenue.
  • $37.7 million in global adjusted EBITDA.
  • $80 million to $100 million in fiscal 2026 pro forma adjusted EBITDA guidance.
  • A management target of at least $300 million in adjusted EBITDA in fiscal 2028.

Fubo says its paid-subscriber definition counts customers who completed registration, activated a payment method and generated a collected payment during the relevant month; free and trial users are excluded. The 5.7 million figure was down from 6.2 million in the preceding quarter, so the original “nearly 6 million” launch language should not be treated as the latest count. Guidance and long-term targets are management expectations, not guaranteed results. See the Q2 fiscal 2026 release and the preceding-quarter release.

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Which service fits your household?

Consideration Hulu + Live TV Fubo
App and billing Hulu app and Hulu subscription Fubo app and Fubo subscription
Main appeal Live TV combined with Hulu and Disney+ entertainment libraries in the plan described by the February 2026 announcement Sports-first live-TV discovery and sports-oriented packages
Best fit Households wanting Hulu/Disney entertainment and live news, entertainment and sports Sports-heavy households, viewers interested in Fubo packages or Latino offerings
NBCUniversal programming May be available depending on the plan and market Availability depends on the selected plan and market; some viewers may need Hulu + Live TV
On-demand priority Stronger fit for households seeking Hulu and Disney libraries Not the natural choice if Hulu’s full on-demand catalog is the primary need
Price Fubo reported $89.99 per month for a core plan on February 10, 2026; verify the current price Current price is not fixed here; check the official plans page because prices, taxes and regional restrictions can change
Official signup hulu.com/live-tv fubo.tv/welcome/plans

Channel rights vary by location and plan, and add-ons or expiring promotions can materially change the monthly bill. Confirm the checkout terms before cancelling an existing service.

When keeping both can make sense

Consider both only when the household’s must-have programming is split between the two lineups—for example, a Fubo customer needs NBCUniversal content available through Hulu + Live TV, or a Hulu + Live TV customer wants Fubo Sports Network and other Fubo-specific offerings. The combined ownership may make those products easier to compare, but it does not remove the cost of two subscriptions.

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What subscribers should do now

  1. Keep your current service unless its lineup or price no longer works for you. The merger itself does not require an immediate cancellation or migration.
  2. Check the app and account you already use. Hulu + Live TV remains in Hulu; Fubo remains in Fubo.
  3. Compare the exact channels you watch. Look at your plan, ZIP code, regional sports availability, add-ons and DVR terms.
  4. Verify the live price at checkout. Promotional prices can expire, and taxes or regional fees may apply.
  5. Add the other service only for a specific programming gap. Do not assume corporate ownership creates a free bundle.

What to watch next

  • Further movement of Fubo products into Disney, ESPN or Hulu commerce flows.
  • Additional Fubo programming appearing on Hulu + Live TV, or vice versa.
  • Any official announcement about unified billing, account migration or app changes.
  • Subscriber trends after the post-combination reporting transition.
  • Whether content-cost savings and advertising plans translate into improved profitability.

Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.

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