FuboTV Inc (FUBO)

[RandomWalk44]

Disney reveals surprise stake in FuboTV

https://www.broadbandtvnews.com/2020/08/12/disney-reveals-surprise-stake-in-fubotv/

AUGUST 12, 2020 11.13 EUROPE/LONDON BY JULIAN CLOVER

Sports broadcaster FuboTV has filed an IPO with the Securities & Exchange Commission.

It follows last April’s merger between the streaming platform and the Facebank Group. FuboTV had initially planned to release its financial results on Monday, but it now seems that the delay in doing so was the result of a move by Walt Disney Co to acquire 6 million shares in FaceBank. The share represents about 5% of the company.

FaceBank, which makes avatars and characters for virtual entertainment is in the process of changing its name to that of the company it acquired.

Its believed FuboTV has between 300,000-400,000 subscribers.

In June, Fubo TV announced a new, multi-year carriage agreement to bring 13 Discovery networks to Fubo TV’s live TV streaming service, suggesting an expansion beyond the sports market is on the cards.