FuboTV was set to share its Q2 financial report Monday but delayed the release of the report at the last minute. We now know that the cause of the delay was likely a move by Walt Disney Co. to purchase over 6 million shares of FaceBank Group, the company that merged with FuboTV in April.

The form was filed with the US Securities and Exchange Commission on Monday.

In its Q1 letter to shareholders, FuboTV reported that it saw a 78% increase in revenue year over year and ended the quarter with 287,316 subscribers, a 37% increase year over year. Disney owns the majority of FuboTV competitor Hulu, the largest live TV streaming service in the US with 3.4 million subscribers. FuboTV recently added a slate of Disney channels, including ESPN, to its lineup.

Following the Disney news, FuboTV announced today that it is interested in becoming a publicly held company, by filing Form S-1 with the SEC. Form S-1 is an SEC registration required by companies that plan on going public, in connection with an initial public offering, or IPO.

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The post Disney Buys Stock in FaceBank Ahead of FuboTV Plans for an IPO appeared first on Cord Cutters News.

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