FuboTV, known popularly for a streaming platform will soon come in merge with FaceBank Group. FaceBank is a company that runs with its ideals of a unique representation of content in the form of virtuality. Under the merging, the proposed plan to set the name of the company would be FuboTV.
FuboTV’s media streaming with complying with FaceBank’s media streaming such as live performances, sport and more. Along with that, the headquarters of the future company will have resided in New York. David Gandler has declared that he would be running the company after it has been merged.
That being said, the management structure of the upcoming company is yet to set a proper structure. Hence, notice will come soon on that.
What’s the Idea Behind…
By merging the two different ideal platforms, one can expect the delivery of content in the form of traditional as well as futuristic. Moreover, FuboTV has plans to come under IP relationships with celebrities to enhance the entertainment platform.
For the record, FaceBank is noted for creating virtual humans that happen to be hyper-realistic. Also, it is known for making profound virtual representations of celebrities. So, if this aspect merges with FuboTV then a higher level of entertainment can be attained.
That implies that one would be able to stream live and also at the same time, watch performances of these celebrities. The idea is to build a platform that achieves a category- specific identity to it.
David Gandler recently mentioned that FuboTV may be on the verge of attaining a successful position to become the global-leading platform that streams live TV. He also mentioned that this can be made possible as the recent launch in Canada showed success. As well as the growth of business with the United States shows signs of success.
David also claimed that the current global pandemic makes the situation more sensible. As people are going to remain at home for safety, media entertainment would play a big role during this timespan.
FaceBank was in Search for the Platform…
John Textor, as well as Alex Bafer being the founder of FaceBank, claimed that they had been in search of a platform. For a company that is Tech driver, the founder was keen on looking for solace to deliver its dynamic interface so it could be of use to people globally.
According to both the founders, FuboTV is the best match for what they’ve been looking for. They mentioned that the founder of FuboTV along with his team has a vision of the bigger picture.
The SEC filing has concluded that as of now, FaceBank will soon either buy or merge with FuboTV for sure. As per the voting system, the Series AA Convertible Stock will gain a maximum of 0.8 for every share. Along with that, common stock will be converted into two shares.
As far as the financial states come in concern, David claimed to have a line of credit that is secure and worth $100 million. From there, FuboTV will get $10 during the first day of the upcoming month of April.
Along with that, the final merge will make an impact on the international expansion and not let it discontinue. That being said, the international expansion would have a total of 180 spots in countries.