Function(x) Inc. (NASDAQ:FNCX) Files An 8-K Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

As previously disclosed by Function(x) Inc. (the Company) in a
Form 8-K filed on June 12, 2015, Sillerman Investment Company IV,
LLC (SIC IV), an affiliate of Robert F.X. Sillerman, our
Executive Chairman and Chief Executive Officer of the Company,
agreed to provide a Line of Credit to the Company (the Line of
Credit).

On December 15, 2016, the Company borrowed an additional $550,000
under the Line of Credit. The principal amount now outstanding
under the Line of Credit is $2,964,586 and the Company is
entitled to draw up to an additional $2,035,414 under the Line of
Credit.

Item 8.01. Other Events.

On December 20, 2016, the Company) issued a press release
relating to its subsidiary, DraftDay Gaming Group, Inc.,
developing daily fantasy sports contests for cricket in
Australia.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits