fuboTV, a live TV streaming platform, and FaceBank Group, a celebrity and sports focused virtual entertainment company, have announced the closing of their previously announced merger agreement.
The combined company will do business as fuboTV 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.
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.
Commented Gandler: “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.”
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.”