NEW YORK – fuboTV Inc., a leading live TV streaming platform, and FaceBank Group, a leading celebrity and sports focused virtual entertainment company, announced today the closing of their previously announced merger agreement.
The combined company will do business as fuboTV (OTCQB: FBNK) with David Gandler as CEO based in New York City effective today. Additional announcements regarding the combined company's management structure and the Board of Directors will be forthcoming.
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.