Daily Halftime Report: FUBO - Long Play

FUBO broke out to $4.99 this morning after announcing an agreement to combine their Online Live TV Businesses, creating a new venture with the merge that would position Disney with 70% Ownership | Fubo with the remaining 30%. This will prompt FuboTV to drop it's legal claims against Disney also. I'm looking for a potential entry at $3.69 after seeing it peak at $4.99, with a price target of $8.14 over time until the merger is completed, with confirmation of close above $3.81 on the stock.

MT-Newswire:
08:31 AM EST, 01/06/2025 (MT Newswires) -- Walt Disney (DIS) and streaming provider FuboTV (FUBO) are nearing an agreement to combine their online live TV businesses, Bloomberg reported Monday, citing sources familiar with the discussions.
Under the deal, Disney will merge its Hulu + Live TV business into Fubo, creating a new venture that would be 70% owned by Disney and 30% by Fubo, Bloomberg reported.
The transaction excludes Hulu's subscription video-on-demand business, which allows users to stream content on-demand for a fee, the report said
As part of the deal, Fubo is expected to drop its legal claims against Disney, Fox (FOX), and Warner Bros. Discovery (WBD) over Venu Sports, Bloomberg said.

Fubo, which had a market value of about $481 million as of Friday, will remain publicly traded after the deal, which could be announced as soon as this week, according to the report.
Representatives for Disney and Fubo didn't immediately respond to MT Newswires' requests for comment.
FuboTV shares soared by more than 60% in premarket trading, while Disney was little changed.