By Jill Goldsmith FaceBank Group, a celebrity and sports-focused virtual entertainment company announced Monday it’s buying live streaming platform fuboTV to create a new entity called fuboTV Inc, based in New York and led by fuboTV CEO David Gandler.
Gandler said the merged company, which is currently traded on the OTC (or-over the-counter market) plans to accelerate its timing to uplist to a major stock exchange “as soon as practicable.” The purchase price wasn’t specified and the companies said additional announcements regarding management structure and the Board of Directors will be forthcoming.
The move follows Fox’s recent acquisition of streaming platform Tubi for $440 million. The deal will a leading digital entertainment company,
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