Fubo and the Disney-owned Hulu Plus Live TV services will merge their live TV streaming operations, both companies announced on Monday. The Walt Disney Co. will become the majority stakeholder of the combined business,

Fubo will be combined with Hulu's live TV service and offer a new streaming package with ABC and ESPN channels.

Walt Disney Co said on Monday it would merge its Hulu + Live TV business with smaller rival FuboTV , removing a significant hurdle to the launch of its sports streaming venture with Fox Corp and Warner Bros Discovery .