Stock Groups

FuboTV Gains After Closing Molotov Acquisition -Breaking

by Mike Robinson

[ad_1]

© Reuters.

Sam Boughedda

Investing.com — Fubotv Inc (NYSE:), the live TV streaming platform focused on sports, said Wednesday it completed the acquisition of Molotov SAS — a French live TV streaming firm — earlier than expected.

The agreement was scheduled to close within the first quarter 2022. FuboTV received $190 million as cash and stock in this deal. 

FuboTV shares rose 6% by Wednesday.

Molotov will be still based at Paris. JeanDavid Blanc has been appointed president. Blanc will be reporting to Fubo CEO David Gandler. Molotov’s approximately 100 employees will stay with the company, with FuboTV planning to expand the product and engineering team.

Molotov’s products include a direct-to-consumer live TV streaming service and an advertising-supported video-on-demand service, Mango. Together, they have nearly 4,000,000 monthly active French users.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this website’s data including quotes, charts, or buy/sell signal information. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]