US Stock Market Move | Reached agreement with Walt Disney Company, FuboTV (FUBO.US) surges over 140% in pre-market trading.

On Monday, FuboTV (FUBO.US) surged over 140% in pre-market trading, reaching $3.45. According to Bloomberg, Walt Disney Company and streaming service provider Fubo are set to reach a deal to merge their online live TV businesses. As part of the deal, Walt Disney Company will merge its Hulu+Live TV business into Fubo, creating a new company where Walt Disney Company will own 70% of the shares, with the rest owned by Fubo. This deal does not include Hulu's subscription video service. The TV company will continue to operate under both brands.