Walt Disney Co (NYSE: DIS) and FuboTV (NYSE: FUBO) just shook up the streaming sector. The two companies surprised investors by announcing the combination of Fubo and Hulu + Live TV into a company that will be known as Fubo,

Hulu and sports-forward streamer Fubo are settling aside some legal differences and teaming up in order to launch yet another new platform for you to subscribe to. Last year, Fubo filed a lawsuit against Disney (which co-owns Hulu),

Disney’s Hulu + Live TV service and Fubo will merge, creating one of the country’s largest pay TV providers, the companies announced Monday in a surprise deal that will potentially allow the Venu Sports streaming service to move forward.

The launch of sports streamer Venu, "and potentially new packages from Fubo, appears to be an important strategic lever to cast a wider net and catch all potential subscribers," says one Disney analyst.

In a surprising deal announced on Monday, Disney is set to combine its Hulu Live TV business with Fubo, the live TV streaming service known for its extensive sports coverage. Under the terms of the deal, Disney will own about 70% of Fubo, which will continue to be available to viewers as a separate offering.

Walt Disney is changing some channels, but shareholders are watching the same show. The entertainment conglomerate unveiled plans to inject its struggling Hulu Live TV bundle into the $2 billion owner of rival streaming service FuboTV .

Hulu is critical to Disney's (NYSE: DIS) streaming strategy, but the Hulu Live cable business wasn't part of those long-term plans. Instead of shutting it down, Bob Iger traded Hulu Live for a 70% stake in Fubo (NYSE: FUBO),

Consolidation is coming as traditional media players bid to chip away at Netflix's streaming dominance. Vin Diesel and Dwayne Johnson Come Face to Face at Golden Globes; Diesel Shouts Out Co-Star on S