Fubo is set to pay €164.3m in a cash-and-equity deal, with 85% of this total to be paid in equity. It said that the deal – set to close in the first quarter of 2022 – is “expected to enable FuboTV to launch its interactive sports and entertainment streaming platform on a global scale”.
Molotov – which Fubo described as “France’s number one live-streaming company” – currently offers television programming, films, documentaries and children’s content. However, with the acquisition, Fubo said it will provide Molotov with sports content and “sports-first product features”.
“Molotov has set the benchmark for ad-supported and subscription streaming platforms in Europe,” David Gandler, co-founder and chief executive of FuboTV, said. “We believe this strategic asset will help accelerate our goal of achieving global scale and operating leverage as we continue to improve and innovate on our live, interactive streaming TV experience for sports fans and their families.”
Molotov also offers a “freemium” model for its streaming services, allowing customers to choose a free option with advertisements or a subscription option with more channel packages.
Molotov and its approximately 100 employees will continue to be based in Paris and led by co-founder JeanDavid Blanc, who will become president of Molotov.
“We’re thrilled to scale Molotov with fuboTV with whom we share the same ambition and vision for a live TV streaming platform,” Blanc said. “Our goal is to provide consumers with a best-in-class streaming experience with premium television content on a global scale.”
Fubo launched its sportsbook brand earlier this year after it completed its acquisition of sportsbook operator Vigtory in March.
Earlier this week, Fubo Sportsbook officially launched in the US, after securing approval to launch in the state of Iowa.