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Acquisitions (Tables) | 12 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
Schedule of Assets Acquired and Liabilities Assumed | The following table summarizes the allocation of the purchase price to the assets acquired and liabilities assumed for the Facebank AG acquisition (in thousands):
Cash |  | $ | 329 |
Accounts receivable |  |  | 3,709 |
Property and equipment |  |  | 16 |
Investments |  |  | 5,671 |
Financial assets as fair value |  |  | 2,275 |
Intangible assets – customer relationships |  |  | 2,241 |
Intangible assets – intellectual property |  |  | 1,215 |
Intangible assets – trade names and trademarks |  |  | 843 |
Goodwill |  |  | 28,541 |
Accounts payable |  |  | (64 | )
Accrued expenses |  |  | (802 | )
Deferred taxes |  |  | (1,161 | )
Long-term borrowings |  |  | (22,863 | )
Stock purchase price |  | $ | 19,950 |
The following table summarizes the allocation of the purchase price to the assets acquired, liabilities assumed and noncontrolling interest for the Nexway AG Acquisition (in thousands):
Cash |  | $ | 4,152 |
Accounts receivable |  |  | 12,900 |
Prepaid expenses |  |  | 1,169 |
Inventory |  |  | 61 |
Property and equipment |  |  | 213 |
Intangible assets – customer relationships |  |  | 2,241 |
Intangible assets – intellectual property |  |  | 1,215 |
Intangible assets – trade names and trademarks |  |  | 843 |
Goodwill |  |  | 45,900 |
Right-of-use assets |  |  | 3,594 |
Accounts payable |  |  | (28,381 | )
Accrued expenses |  |  | (16,747 | )
Current portion of lease liability |  |  | (756 | )
Deferred income taxes |  |  | (450 | )
Other long-term liabilities |  |  | (193 | )
Lease liability |  |  | (2,838 | )
Long-term borrowings |  |  | (24,609 | )
Noncontrolling interests |  |  | (3,582 | )
Consideration transferred |  | $ | (5,268 | )
Assets acquired: |  |  |  |
Cash and cash equivalents |  | $ | 8,040 |
Accounts receivable |  |  | 5,831 |
Prepaid expenses and other current assets |  |  | 976 |
Property & equipment |  |  | 2,042 |
Restricted cash |  |  | 1,333 |
Other noncurrent assets |  |  | 397 |
Operating leases - right-of-use assets |  |  | 5,395 |
Intangible assets |  |  | 243,612 |
Deferred tax asset |  |  | 15,527 |
Goodwill |  |  | 478,406 |
Total assets acquired |  |  | 761,559 |
Liabilities assumed: |  |  |  |
Accounts payable |  | $ | 66,498 |
Accrued expenses and other current liabilities |  |  | 80,996 |
Long term borrowings - current portion |  |  | 5,625 |
Operating lease liabilities |  |  | 5,395 |
Deferred revenue |  |  | 8,809 |
Long-term debt, net of issuance costs |  |  | 18,125 |
Total liabilities assumed |  | $ | 185,448 |
Net assets acquired |  | $ | 576,111 |
Schedule of Unaudited Pro Forma Financial Information | The following unaudited pro forma financial information for the year ended December 31, 2019 presents combined results of operations as if the Nexway AG acquisition had occurred on January 1, 2019 (in thousands except per share data):
|  | Year ended |
|  | December 31, 2019 |
Operating revenues |  | $ | 14,928 |
Net loss |  | $ | (44,088 | )
Proforma EPS - basic and diluted |  | $ | (1.98 | )
The following unaudited pro forma consolidated results of operations assume that the acquisition of fuboTV Pre-Merger was completed as of January 1, 2019 (in thousands):
|  | Years ended December 31, |
|  | 2020 |  |  | 2019 |
Total revenues |  | $ | 268,793 |  |  | $ | 150,801 |
Net loss attributable to common stockholders |  | $ | (590,404 | ) |  | $ | (255,488 | )
Schedule of Estimated Useful Lives and Fair Value of the Intangible Assets Acquired | The estimated useful lives and fair value of the intangible assets acquired are as follows (in thousands):
|  | Estimated Useful Life (in Years) |  | Fair Value |
Software and technology |  | 9 |  | $ | 181,737 |
Customer relationships |  | 2 |  |  | 23,678 |
Tradenames |  | 9 |  |  | 38,197 |
Total |  |  |  | $ | 243,612 |

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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121647850&loc=d3e4845-128472 + Details
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