Disney Acquires a Substantial Stake in FuboTV-Owner FaceBank Group

Disney Acquires a Substantial Stake in FuboTV-Owner FaceBank Group

Disney (NYSE: DIS) and FaceBank Group (OTC: FUBO) revealed in a regulatory filing late Monday that Disney had purchased a sizable stake in FaceBank, the parent company of live-TV streaming platform FuboTV. Disney bought convertible preferred stock worth 6.63 million shares of FaceBank Group's common stock, which would represent a nearly 16% stake in the company.