A board member of FuboTV (FUBO) is making a long-term bet on his company.
Neil Glat — who has served as a board member since March 2024 — converted 49,000 of his restricted stock units (RSUs) into common stock on March 7, a move worth $156,000 at the time, according to an SEC filing.
Unlike RSUs, which automatically vest over time, common stock exposes Glat to FuboTV’s daily price swings, meaning he now shares the same risks and rewards as regular investors.
Among other things, Glat’s stock conversion signals confidence in FUBO stock’s future despite its recent volatility.
Stock in Disney’s orbit
FuboTV (FUBO) climbed 2.66% on Tuesday, closing at $3.09.
The stock surged 110% in January after Disney (DIS) announced plans to acquire FuboTV and integrate it into Hulu, its own streaming service. However, the broader market sell-off has dampened the rally.
The acquisition also resolved a legal battle between Fubo and Disney, which had previously sued the entertainment giant for allegedly stifling competition.
The lawsuit targeted a joint venture between Disney, Fox Corp. (FOXA), and Warner Bros. Discovery (WBD), which planned to launch a new sports streaming service.
As part of the acquisition, that joint venture is now dead.
Financial state
FuboTV posted a $176 million net loss in 2024, an improvement over the previous year as higher subscriptions boosted revenue to $1.5 billion — the highest in company history, according to its latest earnings report.
Despite record sales, FuboTV remains $330 million in debt.
FUBO stock peaked in 2015 but has struggled since due to the brutal streaming wars. Fubo’s decline accelerated in 2021 after reporting a $95 million loss, and the stock has languished for three years until Disney’s buyout announcement.
Disney will be required to pay a termination fee of $130 million to FuboTV under certain circumstances, including if the transaction fails to close.
Investment bank Needham’s Laura Martin set a price target of $2–$3.05 for FuboTV on March 3. Barrington Research expects Fubo to report $0.08 earnings per share for Q1 2025.
For now, Glat’s move suggests at least one insider sees value in holding FuboTV long-term — whether as an independent company or under Disney’s umbrella.
Correction note (March 14, 2025): The article previously stated that Disney would gain the ability to stream ESPN live on FuboTV after the deal is finalized. In fact, FuboTV has streamed Disney network content, including ESPN, since 2020. We have also updated the article to include financial details of the deal, noting that Disney may be required to pay FuboTV a $130 million termination fee under certain circumstances if the transaction fails to close.
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