Disney Merges Me FuboTVExpansion of live streaming business

The Walt Disney Company, a U.S. media and content giant, said it is merging the U.S. broadcast streaming service FuboTV to combine it with its Hulu+LiveTV.

Disney announced that it will have 6.2 million North American subscribers by signing a final agreement with Fubo to merge.

Fubo, which started as a live streaming service for soccer games in 2015, has expanded to comprehensive sports and news channels, leading the introduction of the vMVPD (virtual multi-channel video program distribution) model.

vMVPD is a method of simultaneously providing multiple traditional cable TV channel broadcasts on a single streaming platform.

Before merging with Disney, Fubo had 1.6 million subscribers in North America and has competed with Google's YouTube TV and others, which serve broadcasts in a similar way.

Disney plans to create new sports services by combining networks such as Fubo and Disney's ESPN, saying it will offer a wider variety of program packages and attractive price points.

Disney's announcement of the merger sent shares of publicly traded Fubo soaring more than 250% during the day on the New York Stock Exchange.