TNB Tech Minute: Disney Strikes Deal to Combine Hulu+ with FuboTV
WSJ Tech News Briefing
Deep Dive
Shownotes Transcript
This episode is brought to you by Charles Schwab. Decisions made in Washington can affect your portfolio every day. Washington Wise from Charles Schwab is an original podcast that unpacks the stories making news there. Listen at schwab.com slash Washington Wise. Here's your TMB Tech Minute for Monday, January the 6th.
I'm James Rundle for The Wall Street Journal. Disney has agreed to combine its Hulu Plus live streaming service with sports-focused FuboTV. Under the agreement, Disney will own roughly 70% of FuboTV, whose management will stay in place and run the new venture. The two services will continue to be offered separately to their combined audience of more than 6.2 million subscribers in North America.
The agreement will also end pending litigation over Venue Sports, a joint streaming venture between Disney's ESPN, Warner Bros. Discovery and Fox. FuboTV sued to block that venture in February. Fox and The Wall Street Journal's parents, News Corp, share common ownership. A Chinese-owned ship cut an undersea fiber-optic cable near Taiwan. That's according to Taiwanese authorities, who said they couldn't rule out that it was intentional.
Taipei said its coast guard tracked the vessel and identified it as Chinese-owned, but couldn't board it due to weather conditions. China has operated a multifaceted campaign of political and economic pressure against Taiwan in recent years, which it regards as its sovereign territory. Beijing's Taiwan Affairs Office didn't respond to a request for comment. Internet service to Taiwan was largely unaffected, but the incident is the latest of several involving undersea cables being severed and pipelines damaged in recent years.
And global chip stocks climbed after Foxconn, a major contractor for NVIDIA and Apple, posted record earnings. NVIDIA and advanced micro devices were up more than 3%, and micron technology rose more than 10% after Foxconn said its quarterly revenue rose 15% on the year. The Taiwan-listed company said it saw growth in almost all of its major sales segments, driven by demand for servers used to power artificial intelligence. For a deeper dive into what's happening in tech, check out Tuesday's Tech News Briefing podcast.