fuboTV and FaceBank Group announced today the closing of their merger agreement. The combined company will operate under the name fuboTV with David Gandler as CEO based in New York City effective today.
“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,” fuboTV said in a statement this morning. “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 plans to take this opportunity to continue its global expansion, with the help of FaceBank’s global ecommerce and payment platform. That platform has a presence in 180 countries and is capable of accepting payments in 140 currencies.
“With today’s closing, fuboTV is well-positioned to redefine the virtual MVPD space. 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,” said Gandler.
FaceBank founder John Textor commented: “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.”
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