NEW YORK—Maximum Effort Productions (MEP) and FuboTV Inc. have announced a multiyear deal that will give Maximum Effort Productions an equity stake and a channel on FuboTV as part of a first-look deal for unscripted content.
MEP, which is known for the "Deadpool" movies, "Free Guy", "The Adam Project", was co-founded by Ryan Reynolds and George Dewey in 2018,
As part of the deal for an exclusive first-look for unscripted TV series, MEP will launch Maximum Effort Network, a linear channel on FuboTV, and will also have a blind scripted deal with FuboTV.
Maximum Effort Productions has been granted creative control over the channel's content. All advertising sales for the Maximum Effort channel will be managed by FuboTV.
Maximum Effort Productions will maintain its three-year first-look development deal with Paramount Pictures announced in May of 2021 for feature projects.
“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,” said Ryan Reynolds, co-founder of Maximum Effort Productions. “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.”
“I am thrilled to announce FuboTV’s partnership with Ryan Reynolds, George Dewey, James Toney (chief strategy officer) and Maximum Effort,” said David Gandler, co-founder and CEO, FuboTV. “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.”
“It’s so exciting to partner with Ryan, George and James to launch a new entertainment network,” said Pamela Duckworth, head of original programming, FuboTV. “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, FuboTV has agreed to issue MEP a warrant to acquire up to 166,667 shares of common stock at an exercise price of $15.00 per share. The Warrant will be exercisable by MEP on or prior to August 2, 2032, provided that the price per share of common stock equals or exceeds a 30-trading day volume weighted average closing price of $30.00 at any time prior to third anniversary of the date of grant.
