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Acquisitions (Tables)

12 Months Ended

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