The chief executive of sports streamer Fubo will receive a six-figure stock option from Newsmax after being appointed to the cable network’s board this week, according to a financial disclosure filed with federal securities regulators on Friday.

For his participation on Newsmax’s Board of Directors, Fubo CEO David Gandler will receive a stock option award valued at $175,000 under the company’s 2025 Omnibus Equity Incentive Plan, Newsmax said.

The award represents the right to purchase shares of Newsmax Class B common stock equal to the $175,000 figure divided by the fair market value on the date of grant. The exercise price was also set at that same market value, the filing reported.

The options vest in full on the one-year anniversary of the grant, provided Gandler continues to serve as a director through that date. No cash compensation or other inducements were disclosed.

Gandler’s appointment took effect on Thursday, the same day Newsmax announced it in a press release. He joins a roster that already includes chief executive Christopher Ruddy, former U.S. Secretary of Labor Alex Acosta, Ambassador Nancy Brinker, Christopher Nixon Cox and Ambassador Paula J. Dobriansky.

Newsmax is in the process of scaling its cable news channel to better compete against Fox News, CNN and MSNBC — it routinely ranks as the fourth most-watched cable news channel, and typically places among the 20 most-watched cable networks overall, according to Nielsen ratings.

Part of its growth strategy involves executing new distribution deals with cable, satellite and streaming cable-like outlets. Newsmax expanded its carriage deal with Fubo in July, and it reached a new agreement with the Walt Disney Company to bring its channel to Hulu’s live TV service earlier this year. Fubo and Disney are in the process of merging their pay TV businesses.

Newsmax is also promoting its own streaming service, called Newsmax Plus, which allows news fans to watch its live channel through the Internet without a traditional cable or satellite TV plan. As of April, Newsmax Plus counted more than 280,000 paying subscribers.

Gandler’s appointment is viewed as a way to help further develop both Newsmax’s ambitious growth plans involving traditional pay TV and direct-to-consumer streaming.

“David’s achievements as an entrepreneur in the streaming and media industries will bring fresh perspective as we continue to expand our global reach, including through our streaming service Newsmax Plus,” Christopher Ruddy, the CEO of Newsmax, said in a statement this week. “His success in building Fubo from startup to a leading operator in the space demonstrates the visionary leadership that will help Newsmax reach new audiences in today’s rapidly evolving media landscape.”