US Stock Market Move | FuboTV (FUBO.US) rose more than 6% after reaching a merger agreement with the streaming services owned by Walt Disney Company (DIS.US) before.

On Thursday, the stock price of FuboTV (FUBO.US) rose, with the stock up over 6% to $3.845 at the time of writing. Earlier, Walt Disney Company (DIS.US) announced the merger of its Hulu + Live TV streaming service with the online sports streaming company FuboTV Inc., to create the second largest digital pay-TV provider in North America. The new joint venture is expected to have 6.2 million subscribers, second only to YouTube TV. According to the agreement, Walt Disney Company will merge its Hulu + Live TV business into Fubo and hold a 70% stake in the joint venture, with the remaining 30% owned by Fubo. This transaction does not involve Hulu's on-demand streaming business (services that provide access to on-demand content for a fee). In the future, the merged TV service will continue to operate under both the Fubo and Hulu + Live TV brands.