FuboTV, FaceBank Strike Merger Deal

FaceBank, a leading celebrity and sports focused virtual entertainment company, and fuboTV, a leading live TV streaming platform, announced Monday, March 23, that the companies have entered into a definitive merger agreement.

Immediately following the closing of the merger, fuboTV will become a wholly-owned subsidiary of FaceBank, and FaceBank will be renamed fuboTV. The combined company is expected to be headquartered in New York and led by fuboTV CEO David Gandler as CEO. Additional announcements regarding the combined company’s management structure and the Board of Directors will be forthcoming.

The proposed merger is expected to create 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 will create 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.

The companies also believe the merger will position fuboTV 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.

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