fuboTV Inc. (NYSE:FUBO) entered into a binding agreement to acquire 98.5% stake in Molotov SAS on November 9, 2021. The consideration will be paid in combination of cash and stock, of which at least 85% is expected in equity. Molotov's approximately 100 employees will remain with the Company and fuboTV plans to further expand the product and engineering team in Paris. Jean-David Blanc, the founder and CEO of Molotov, remains president of the company and also becomes Chief Strategy Officer, directly reporting to David Gandler, fuboTV's co-founder and CEO. The transaction is subject to the required approvals and the usual closing conditions, for an estimated closing date during the first quarter of 2022. The synergies between fuboTV and Molotov's technology and teams are expected to enable both companies to continue on paths of accelerated growth in their respective home countries and leverage their capabilities to improve both business models with greater scale.

fuboTV Inc. (NYSE:FUBO) completed the acquisition of 98.5% stake in Molotov SAS for approximately $120 million on December 6, 2021. The consideration paid in cash totaled $16.3 million, and the issuance of 5.7 million shares of the fuboTV's common stock with a fair value of approximately $98.8 million.