Walt Disney, Fubo near deal to merge their online live TV businesses

Walt Disney Co. and streaming provider FuboTV Inc., are nearing a deal to combine their online live TV businesses, according to people familiar with the matter.

As part of the transaction, Disney will fold its Hulu + Live TV business into Fubo, creating a new venture that will be 70 per cent owned by Disney and the rest by Fubo, the people said, asking not to be identified discussing confidential information.