華特迪士尼公司 (Walt Disney Co.) 和 FuboTV Inc. 合併其線上直播電視業務，創建北美第二大數位付費電視提供商

Fubo 擁有 620 萬訂戶，此次合併增強了 Fubo 在競爭激烈的串流媒體行業中的地位，該行業一直在努力應對高昂的節目成本和訂戶保留方面的挑戰。

Walt Disney (NYSE:DIS) and FuboTV (NYSE:FUBO) are combining their online live TV operations in a move that will create the second-largest digital pay-TV provider in North America, a major development in the streaming industry.

華特迪士尼 (NYSE:DIS) 和 FuboTV (NYSE:FUBO) 正在合併其線上直播電視業務，此舉將創建北美第二大數位付費電視提供商，這是串流媒體行業的重大發展。

With 6.2 million subscribers, Fubo is struggling in the competitive streaming industry, which is grappling with high programming costs and challenges in subscriber retention. But Disney, the entertainment giant, is stepping in to help Fubo scale up.

Fubo 擁有 620 萬訂戶，在競爭激烈的串流媒體行業中舉步維艱，該行業正在努力應對高昂的節目成本和訂戶保留方面的挑戰。但娛樂巨頭迪士尼正在介入，幫助 Fubo 擴大規模。

Under the deal, Disney will maintain a majority stake of 70% in the newly formed entity, which will continue to operate under both the Fubo and Hulu + Live TV brands. Notably, the deal does not include Hulu's on-demand streaming service, keeping that component of Disney's operations separate.

根據協議，迪士尼將保留新成立實體 70% 的多數股權，該實體將繼續以 Fubo 和 Hulu + Live TV 品牌運作。值得注意的是，該交易不包括 Hulu 的點播串流服務，使迪士尼業務的該部分保持獨立。

This strategic move aims to offer consumers more choice and flexibility while enhancing the market standing of both brands.

這項策略性舉措旨在為消費者提供更多選擇和彈性，同時提高兩個品牌的市場地位。

After the announcement, Fubo stock soared nearly 200%, reaching $3.99 at the New York open on Friday, March 31. This marked the company's biggest jump since January 2018. Disney shares also saw an uptick, rising by 0.7%, reflecting the positive market reaction to the merger.

消息公佈後，Fubo 股價飆升近200%，在3 月31 日星期五紐約開盤時達到3.99 美元。市場的利好對合併的反應。

David Gandler, FuboTV co-founder, will become the CEO of the combined company, which will be positioned as the second-largest player in the digital pay-TV market, trailing only YouTube TV in terms of subscribers.

FuboTV 聯合創始人 David Gandler 將擔任合併後公司的首席執行官，該公司將定位為數位付費電視市場第二大參與者，在訂戶數量方面僅次於 YouTube TV。

"This transaction will enable FuboTV to scale effectively, and combined with our anticipated strong 2023 financial performance, will strengthen our balance sheet and ultimately position us to achieve positive cash flow," Gandler said in a statement.

甘德勒在聲明中表示：「這項交易將使FuboTV 能夠有效擴大規模，並結合我們預期的2023 年強勁財務業績，將加強我們的資產負債表，並最終使我們實現正現金流。 」

"Our combined team will be able to create a more powerful entity, capable of competing with larger players in the space."

“我們的合併團隊將能夠創建一個更強大的實體，能夠與該領域更大的參與者競爭。”

One of the most significant components of the merger is Disney's commitment to help Fubo secure a new carriage agreement, which will allow Fubo to offer a sports and broadcast service featuring Disney networks, including ABC and ESPN.

此次合併最重要的組成部分之一是迪士尼承諾幫助 Fubo 獲得新的運輸協議，這將使 Fubo 能夠提供以迪士尼網絡（包括 ABC 和 ESPN）為特色的體育和廣播服務。

Currently, Fubo offers a service that streams over 55,000 live sporting events annually, making it a go-to platform for sports fans.

目前，Fubo 每年提供超過 55,000 場體育賽事直播服務，使其成為體育迷的首選平台。

As part of the agreement, Disney and Fubo have resolved ongoing litigation between Fubo and Venu Sports, a planned streaming platform backed by Disney, Fox Corp, and Warner Bros. Discovery.

作為協議的一部分，迪士尼和 Fubo 解決了 Fubo 和 Venu Sports 之間正在進行的訴訟，Venu Sports 是一個由迪士尼、福克斯公司和華納兄弟探索公司支持的計劃中的串流媒體平台。

According to the settlement, the Venu partners will pay Fubo $220 million, and Disney will provide an additional $145 million term loan in 2026, which will be used by Fubo to bolster its growth.

根據和解協議，Venu 合作夥伴將向 Fubo 支付 2.2 億美元，迪士尼將在 2026 年額外提供 1.45 億美元定期貸款，用於 Fubo 的成長。

This financial settlement strengthens Fubo's position and allows the company to focus on growth.

此次財務和解增強了 Fubo 的地位，使公司能夠專注於成長。