Startup Streaming Service FuboTV Secures $55M In Funding Round
Sports-focused streaming service FuboTV has raised $55M in a "sizable round" of Series C funding from investors including Fox, Scripps Network Interactive and Sky. This brings the N.Y.-based startup to $75.6M raised to date. The company "will use the capital infusion to expand programming, marketing and infrastructure" for its OTT service, which is "fighting for subscribers against AT&T's DirecTV Now, Dish Network's Sling TV, YouTube YV, Hulu's live TV service and Sony's PlayStation Vue" (VARIETY.com, 6/19).
Meanwhile, Vice Media has secured a $450M investment from private equity firm TPG, as the "youth-focused digital media company looks to step up its spending on scripted programming and plans a direct-to-consumer service," according to sources. The deal reportedly "will give Vice a valuation" of around $5.7B, "including the new investment." Disney, which has pumped $400M into Vice and owns an 18% stake, "didn’t participate in the funding round" (WSJ.com, 6/19).