FuboTV Inc. (FUBO) is experiencing a decline today, primarily due to the recent decision by Disney, Fox, and Warner Bros. Discovery to disband their joint venture, Venu Sports. This decision, announced on January 10th, comes in the wake of Disney's proposed merger of its Hulu + Live TV business with FuboTV. The dissolution of Venu Sports has raised concerns about the future of FuboTV's strategic partnerships and its ability to compete in the crowded streaming market. Additionally, DirecTV and Dish have issued an antitrust complaint over the Disney-Fubo deal, further complicating the situation for FuboTV.
On Reddit, discussions reflect a mix of confusion and skepticism regarding the Disney-Fubo merger. One user questioned, "Is Disney buying Fubo or just buying part of it and merging HuluTV with it?" Another user expressed concern over the potential impact on the streaming landscape, stating, "Venu will likely have multiple streams and the entire suite of ESPN Channels plus more at $43 vs Sling 'one stream' Orange at $46." The sentiment on the platform suggests uncertainty about the merger's implications for FuboTV's market position and its ability to offer competitive sports streaming options.
FuboTV's stock is currently trading at $5.30, down 0.93% from the previous close of $5.35. Despite being just 30 minutes into the trading day, the stock has already seen an extraordinary volume of 39,649,369 shares traded, representing 126.26% of the average daily volume of 31,403,531 shares, indicating intense trading activity this morning.