FuboTV Shares Jump While TV Stocks Drop
September 01 2023 - 1:41PM
Dow Jones News
By Dean Seal
Shares of FuboTV have been moving higher amid a selloff for
shares of media companies with traditional TV channels after Walt
Disney blocked channels like ESPN and ABC from Charter
Communication's cable system.
The stock was up 13% at $2.65 in midday trading. Shares have
gained 52% since the start of the year.
Disney blocked the channels after it and Charter failed to reach
an agreement over contract fees.
While shares are falling for Charter, Disney, CNN parent Warner
Bros. Discovery, Paramount Global and Comcast, FuboTV and fellow
streamer Netflix got a lift, with the latter company's stock up
2.5% higher at $444.44 in midday trading.
FuboTV is a streaming service that allows customers to watch
traditional channels, including ESPN and ABC, without a cable
subscription.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
September 01, 2023 13:26 ET (17:26 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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