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Helbiz (HLBZ) Stock Price Surges On Partnership With FOX Networks

Sam Boughedda trader
Updated 17 Sep 2021

Shares of Helbiz Inc (NASDAQ: HLBZ) have surged on Friday after the announcement of an agreement between Helbiz Media, the company’s new streaming entertainment service, and FOX Networks Group.

The agreement is for the broadcast of the Italian Serie B championship across the USA and the Caribbean.

“This revolutionary partnership marks Helbiz Media’s arrival in North America and is the first time the entire Serie B championship will be available to view in this region,” Helbiz said in its statement.

FOX will be provided with exclusive audiovisual rights to broadcast Serie B matches and game highlights live on FOX Sports channels. In addition, FOX will broadcast three games per week with English commentary, while Helbiz Live will provide commentary in Italian for Italian speakers living in America.

The partnership will take place over the next three seasons, including 2021-2022, 2022-2023 and 2023-2024.

While Helbiz is a micro-mobility company, being the first company to introduce a shared scooter model to Italy, it has continued expanding into new markets such as live-streaming services.

“We are honored to partner with FOX,” said Matteo Mammì, CEO of Helbiz Media.

“The Serie B Championship could not find a better place to be broadcasted throughout North America. This partnership represents a huge step in terms of coverage, potential reach and editorial treatment for Serie B and expands the international presence of Helbiz Live,” he added.

Helbiz Hourly Chart, Source: IG

Helbiz shares are up 90% at $17.09 following the news, adding to Thursday's 12% gain.

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.