FuboTV shares are riding high again after the emerging company announced it is acquiring sports betting startup Vigtory and will use it to launch a full-fledged sportsbook later this year.Terms were not disclosed for the deal, which is expected to close in the first quarter.
It positions Fubo, which was founded in 2015 as an internet-delivered pay-TV operator akin to YouTube TV, as more of a hybrid company.
While far smaller than DraftKings and FanDuel in the sports betting space and Hulu + Live TV, YouTube and Sling TV on the vMVPD front, the acquisition advances a strategy of blending the two businesses.Shares in Fubo, which have been on a roller-coaster ride in recent weeks, shot up 14% to about $31 in mid-day trading.
Read more on deadline.com
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