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FuboTV Gains After Closing Molotov Acquisition

Stock MarketsDec 08, 2021 11:50
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© Reuters.

By Sam Boughedda

Investing.com — Fubotv Inc (NYSE:FUBO), 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 deal had been set to close in the first quarter of 2022. FuboTV paid $190 million in the cash and stock deal. 

FuboTV shares rose around 6% on Wednesday.

Molotov, founded in 2015, will continue to be based in Paris, led by JeanDavid Blanc, who has been named president. Blanc will report to Fubo's 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. Combined, it has nearly 4 million monthly active users in France

FuboTV Gains After Closing Molotov Acquisition
 

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