What's Going On With FuboTV Stock?

FuboTV Inc FUBO shares are trading higher. The company on Thursday inked a multi-year distribution agreement with Nexstar Media.

What To Know: After the close on Wednesday, Fubo announced that it reached a new comprehensive multi-year distribution agreement covering 89 local TV stations owned by Nexstar. 

The TV stations are affiliated with The CW Network, MyNetworkTV, ABC and several independents. The agreement will also extend Fubo's existing agreement to carry NewsNation, Nexstar's national cable news network.

On Tuesday, Fubo announced that it closed a privately negotiated exchange with a holder of its 3.25% convertible senior notes due 2026, which will reduce the company's debt by $28.3 million. 

"Today's Exchange represents continued proactive management of Fubo's capital structure and improves the flexibility of our balance sheet," said David Gandler, co-founder and CEO of Fubo.

See Also: Apple Remains 'Undisputed' Leader In Premium Smartphone Category, But Huawei's Comeback Has Eaten Into Its Share

FUBO Price Action: Fubo shares were up 2.76% at $2.98 at the time of publication, according to Benzinga Pro.

Photo: courtesy of FuboTV.