fuboTV, Face Bank Group Complete Merger Agreement
fuboTV and FaceBank Group have completed their previously announced merger agreement.
The combined company will do business as fuboTV with David Gandler as CEO based in New York City effective. Additional announcements regarding the combined company’s management structure and the Board of Directors will be forthcoming.
“With today’s closing, fuboTV is well-positioned to redefine the virtual MVPD space,” ays Gandler. “Technology-driven cable TV replacement services are more important than ever, especially at this time when people are staying safe at home watching television for needed information, entertainment and escape.”
The merger creates a leading digital entertainment company, combining fuboTV’s direct-to-consumer live TV streaming platform for cord-cutters with FaceBank’s technology-driven IP in sports, movies and live performances. This combination creates a content delivery platform for traditional and future-form IP. fuboTV plans to leverage FaceBank’s IP sharing relationships with leading celebrities and other digital technologies to enhance its sports and entertainment offerings.
fuboTV intends to continue its global expansion with FaceBank’s Nexway AG, a global ecommerce and payment platform with a business presence in 180 countries, accepting payments in roughly 140 currencies. fuboTV was the first virtual MVPD to commit to global expansion and in 2018 entered Europe with its launch in Spain.
“Today’s closing creates a tech-driven IP company and, for consumers, the ability to enjoy content through a dynamic user interface and delivery platform that supports their rapidly evolving practices of content consumption,” says FaceBank founder John Textor.