AMC Networks Invests $75 Million in FuboTV Inc.April 6, 2018
AMC Networks Ventures LLC, a subsidiary of S&C client AMC Networks Inc., was a key investor in fuboTV's most recent fund raising round. With the investment, FuboTV plans to hire more engineers and continue live programming. AMC Networks recently struck a deal with FuboTV to bring its linear channels and streaming offerings to the service. This deal is part of FuboTV's strategy to expand their sports-focused offerings to include a range of channels such as BBC America, Sundance Channel, IFC and WEtv. Additionally, AMC Premiere will be an add-on option for subscribers and AMC SVOD services Shudder and Sundance Now are part of the FuboTV line-up.
AMC owns and operates several of the most popular and award-winning brands in cable television. AMC, IFC, SundanceTV, WE tv and IFC Films produce and deliver distinctive, compelling and culturally relevant content that engages audiences across multiple platforms. AMC also operates AMC Networks International and BBC America.
Launched in 2015, FuboTV is an over-the-top internet television service that focuses primarily on channels that distribute live sports, including NFL, MLB, NBA, MLS and international soccer, plus news, network television series and movies. In September 2017, FuboTV had more than 100,000 subscribers.
The S&C team advising on the investment was led by Brian Hamilton, Ari Blaut and Nader Mousavi, along with Lauren Boehmke Moritz Raepple and Matt Rosenberg.