- NEW YORK
Maximum Effort Productions--a production company founded by Ryan Reynolds and George Dewey in 2018--and FuboTV Inc. (NYSE: FUBO), a sports-first live TV streaming platform, have entered into a multi-year, first-look deal for unscripted content.
As part of the deal for an exclusive first-look for unscripted TV series, Maximum Effort will launch Maximum Effort Network, a linear channel on FuboTV, and have a blind scripted deal with FuboTV. The Maximum Effort Network will join Fubo’s sports, news and entertainment lineup. Maximum Effort Productions has been granted creative control over the channel’s content. Reynolds and Dewey teamed on the Deadpool movies and then under the Maximum Effort banner have turned out content including Free Guy, The Adam Project and the upcoming unscripted show Welcome to Wrexham. FuboTV will manage all advertising sales for the Maximum Effort channel.
“Maximum Effort’s mission is to bring people together in fun and unexpected ways and we think today’s announcement with Fubo will help do just that,” stated Reynolds. “FuboTV has taken a fresh approach to developing and delivering content in the digital age and the entire team is passionate about thinking differently and taking chances. I genuinely can’t believe Maximum Effort gets to program our own network. I am beyond excited and grateful to Fubo.”
David Gandler, FuboTV co-founder and CEO, said, “I am thrilled to announce FuboTV’s partnership with Ryan Reynolds, George Dewey, James Toney (chief strategy officer) and Maximum Effort. Ryan is not only an A-list Hollywood star but also a serial entrepreneur with a stellar track record across sports (as owner of the Wrexham soccer club), advertising, content and marketing. We plan to leverage Ryan and George’s expertise, creativity and advertiser relationships to underwrite network programming through innovative marketing partnerships that leverage Fubo’s data capabilities and interactive technology stack. Ryan and Maximum Effort have demonstrated their confidence in FuboTV and what we plan to create together through an equity agreement encompassing stock at higher than today’s trading price. We can’t wait to get started.”
Pamela Duckworth, head of original programming, FuboTV, said, “It’s so exciting to partner with Ryan, George and James to launch a new entertainment network. We all feel the opportunity to co-create scripted and unscripted content without the usual layers of approvals necessary at other networks will open the creative floodgates.”
Under the terms of the agreement, Maximum Effort is set to receive equity including $10 million worth of shares in common stock from FuboTV as consideration for the deal. Plans also call for Maximum Effort to receive a warrant to in the future acquire up to an additional 166,667 shares of common stock in FuboTV at $15 per share provided that proves to be a favorable price (compared to a valuation of at least $30 per share in the marketplace). The warrant will be exercisable by Maximum Effort on or prior to August 2, 2032.
Maximum Effort Productions will maintain its three-year first-look development deal with Paramount Pictures announced in May of 2021 for feature projects.