Shares of fuboTV Inc. (FUBO) surged 6.32% in pre-market trading on Wednesday, following the announcement of the completion of its business combination with Disney's Hulu + Live TV service. This significant development has sparked investor enthusiasm, driving the stock's upward momentum before the market opens.

The newly combined entity, which will continue to operate both brands separately, now stands as the sixth largest pay TV provider in the United States. With nearly 6 million subscribers in North America, the merger creates a formidable player in the streaming and live TV landscape. The Walt Disney Company will hold approximately 70% interest in the combined company, while existing Fubo shareholders will retain about 30% ownership.

This strategic move is expected to strengthen fuboTV's market position and expand its content offerings. The combined entity will provide an extensive lineup of over 55,000 live sports events and entertainment programming. Furthermore, fuboTV's management team, led by Co-founder and CEO David Gandler, will oversee the operations of both Fubo and Hulu + Live TV, potentially leveraging synergies and expertise across both platforms. As the streaming wars intensify, this merger could position fuboTV for accelerated growth and increased competitiveness in the evolving media landscape.