Sky (OTCQX:SKYAY -1.5%) and Twenty-First Century Fox (FOX -0.3%, FOXA -0.3%) are co-leaders of a $15M investment round into FuboTV, a direct-to-consumer Internet video service offering a cable-like sports package.
The companies each get a board seat and put $6M each into FuboTV, which sells a $9.99/month bundle of channels covering live soccer and other sports via networks including Univision, beIN and BenficaTV. Other investors include former Warner Music Group Chairman Edgar Bronfman Jr., ICM's Chris Silbermann and former NBA Commissioner David Stern.
The service's young viewers (it has 40,000 customers so far) are a perennial target for broadcasters, and Fox and Sky have been investing in digital products to reach those who may be unlikely to even subscribe to traditional pay TV.
FuboTV offers service to Roku devices, iOS/Android and Amazon Fire TV platforms.
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