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.
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