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FuboTV Gets Lift From Agreement to Stream Chicago Cubs Games

FuboTV announces an agreement for Chicago Cubs games.
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FuboTV  (FUBO) - Get fuboTV Inc. Report shares rose Thursday after the sports streaming platform announced an agreement for Chicago Cubs games.

Cubs games are broadcast on regular TV over Marquee Sports Network, a regional sports network.

“Through FuboTV, subscribers throughout the Marquee territory will have access to all Marquee programming, including all non-nationally televised regular season Chicago Cubs games, pregame and postgame shows,” Fubo said.

“The addition of Marquee Sports Network further bolsters FuboTV’s already strong sports offering, which includes more than 50,000 live sporting events annually … and more RSNs [regional sports networks] in its base package than any other live TV streaming platform,” the company said.

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Marquee will appear on FuboTV in the coming weeks, according to an official announcement.

Fubo recently traded at $22.43, up 1.4%. The stock has surged 174% over the past year amid investor excitement over streaming, which has exploded amid the COVID pandemic.

Last month, Fubo reported a wider fourth-quarter loss on higher-than-expected revenue. The loss totaled $2.47 a share, widening from $1.07 a share in the year-earlier fourth quarter. The latest figure was worse than the FactSet analyst forecast of a loss of 85 cents. Revenue registered $105.1 million in the quarter, beating expectations of $95.1 million.

In other baseball news, Sports Illustrated baseball experts made their predictions Wednesday for who will win MVP, Cy Young and Rookie of the Year awards this year. Mike Trout is the front-runner to win his fourth AL MVP.

Meanwhile, star shortstop Francisco Lindor and the New York Mets reportedly have agreed to a 10-year, $341 million contract extension.