FuboTV — a U.S.-based video streaming service offering a premium, over-the-top bundle of sports TV channels — has inked a deal to merge with Facebank Group, a developer of technology IP.
Terms of the deal were not disclosed, but the proposed merger aims to create a sports-first digital entertainment alternative online for cord-cutters and cord-nevers.
The combined company will be led by David Gandler, CEO of FuboTV, which received earlier investment stakes from 21st Century Fox, European pay TV giant Sky, ICM Partners' Chris Silbermann, Luminari Capital and LionTree Partners. "The business combination of FaceBank Group and FuboTV accelerates our ability to build a category defining company and supports our goal to provide consumers with a.
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