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Fubo will be combined with Hulu's live TV service and offer a new streaming package with ABC and ESPN channels.

The deal will create a streaming multichannel video service that is second only to YouTube in scale, while potentially allowing the Venu service to move forward.

The platform is similar to Hulu + Live TV, Sling TV, YouTube TV, and DirecTV Stream in terms of pricing and features. However, Fubo lacks several popular cable networks from Warner Bros.