SCHEDULE: Disney, Hulu Update FuboTV Stake Disclosure

The Walt Disney Company and Hulu, LLC filed an amendment to their Schedule 13D, updating their beneficial ownership percentage in FuboTV Inc. to 72.9% on a fully exchanged basis.

Summary

• The Walt Disney Company and Hulu, LLC filed Amendment No. 1 to their Schedule 13D concerning their beneficial ownership in FuboTV Inc.
• The amendment updates the reported beneficial ownership percentage to 72.9% of FuboTV's Class A Common Stock on a fully exchanged basis.
• This percentage is calculated based on 947,910,220 shares of Class B Common Stock, assuming their exchange into Class A Common Stock, totaling 1,300,625,436 shares of Class A Common Stock on a fully exchanged basis.
• The previous Schedule 13D, filed on November 5, 2025, reported ownership on a fully diluted basis using 406,247,237 shares of Class A Common Stock as of October 28, 2025, resulting in different percentages not due to transactions by the reporting persons.
• The filing also replaces Schedule II, providing an updated list of the directors and executive officers of The Walt Disney Company.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, routine regulatory update that clarifies beneficial ownership percentages and provides an updated list of the reporting person's management, without indicating any new strategic shifts or financial performance.

Positives

• Clarification of beneficial ownership calculation methodology provides greater transparency for investors.

Negatives

• The initial discrepancy between the cover page's reference to 352,715,216 shares outstanding and the actual percentage calculation based on a fully exchanged basis of 1,300,625,436 shares could initially cause confusion.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding FuboTV Inc. or the reporting persons' future intentions beyond the updated ownership disclosure.

Industry Context

StockSavvy.ai notes that this amendment clarifies the significant ownership stake The Walt Disney Company and Hulu, LLC hold in FuboTV Inc., underscoring the ongoing strategic importance of streaming and content distribution in the competitive media landscape. While a routine disclosure, it highlights the complex ownership structures that can exist within the streaming ecosystem, particularly as major players like Disney continue to consolidate or clarify their positions in related ventures.

Comparison to Industry Standards

• This filing is a regulatory disclosure of beneficial ownership and does not contain performance metrics suitable for comparison to industry standards or specific comparable companies/projects. It primarily updates the calculation methodology for a significant stake.

Corporate Governance

Stakeholder Impact

• Shareholders of FuboTV Inc. gain clearer understanding of the beneficial ownership structure of a major stakeholder (Disney/Hulu).
• Investors in The Walt Disney Company receive updated disclosure regarding their subsidiary's (Hulu's) and the parent company's stake in FuboTV.

Key Dates

Recommendation

This filing is a routine regulatory amendment clarifying beneficial ownership percentages and updating a list of directors and executive officers. It does not present new information that would fundamentally alter the investment thesis for FuboTV Inc. or The Walt Disney Company, thus a 'hold' recommendation is appropriate as it provides no new catalysts for significant price movement.

Keywords

FuboTV Inc., Walt Disney Company, Hulu LLC, Schedule 13D/A, Beneficial Ownership, Class A Common Stock, Class B Common Stock, SEC Filing, Corporate Governance, Streaming, Media, Entertainment