Sparkling skies, sunshiny days and balmy nights are finally upon us.
29.06.2024 - 17:31 / deadline.com
After months of financial struggles, Redbox parent Chicken Soup for the Soul Entertainment has filed for Chapter 11 bankruptcy protection.
The company relayed news of the Delaware court filing in a message to employees in the early hours of Saturday.
“Overnight we filed for Chapter 11 bankruptcy protection,” the message said. “In connection with the filing, we have applied for approval of a debtor in possession [DIP] loan. Upon court approval, we expect payroll to be funded early in the week and funding for this upcoming week’s payroll to also be secured. We also expect to have the funds to reinstate medical benefits back to May 14, 2024 and going forward. We will provide regular updates.”
Delinquent payroll and suspended benefits, first reported last week by Deadline, became the latest fire for the company to try to extinguish. It has been struggling over the past year in the wake of taking on Redbox in a debt-heavy 2022 deal valued at $375 million. In addition to the financial burden of the transaction, the Hollywood studio pipeline was constricted by the dual strikes in 2023, only exacerbating the decline of physical disc rentals. A number of vendors and filmmakers had also gone unpaid, and some had filed lawsuits.
In an SEC filing earlier this month, the company said its net losses widened to $636.6 million in 2023 from $111.2 million in the prior year. The filing warned that bankruptcy was a potential outcome if the company failed to secure funding.
The Redbox deal capped off a series of acquisitions following the company’s initial public offering in 2017 as a spinoff from the popular Chicken Soup line of self-help books. The company scooped up streaming service Crackle from Sony and also took over 1091 Pictures,
Sparkling skies, sunshiny days and balmy nights are finally upon us.
Eagles‘ Don Henley has filed a lawsuit for the return of his handwritten notes and lyrics from the ‘Hotel California’ album.Henley filed the civil complaint in New York federal court on Friday (June 27), per the Associated Press. It follows a previous case against three collectibles experts in March, who were accused of trying to sell the notes.
Todd Spangler NY Digital Editor Chicken Soup for the Soul Entertainment, the entertainment company that operates Redbox, Crackle and other businesses, filed for Chapter 11 bankruptcy protection — after failing to pay employees and vendors for at least the past week. The company’s June 28 bankruptcy petition was filed in the U.S. Bankruptcy Court for the District of Delaware.
Bud S. Smith, an Oscar-nominated film editor, died last Sunday at his home in Studio City, California, from respiratory failure after a prolonged illness. He was 88.
Steven J. Horowitz Senior Music Writer After a previous trial over stolen manuscripts came to an abrupt halt in March, Don Henley has filed a lawsuit to recover those personal Eagles sheets, which contain the lyrics to “Hotel California” and other hits.
Naman Ramachandran The 32nd Raindance Film Festival (June 19-28) has revealed its jury award winners, reflecting a renewed focus on emerging filmmakers. Korean thriller “Sleep,” directed by Jason Yu and starring Lee Sun-kyun and Jung Yu-mi, took home the Discovery Award for best debut feature. The film marks Lee’s final role before his passing.
to TMZ. His brother, pastor Thomas G. Cobbs, shared the news on Facebook on Wednesday.
EXCLUSIVE: In the latest sign of trouble for Redbox parent Chicken Soup for the Soul Entertainment, the company’s employees say they have not been paid in nearly a week and their medical benefits have been suspended.
On the latest episode of BBC's Escape to the Country, house-hunter Susan was visibly moved to tears after viewing her dream home.
Matthew Modine, who starred in the 1987 Stanley Kubrick war comedy “Full Metal Jacket,” is outraged that Amazon changed the artwork on the platform’s landing page to rent the film. Modine, 65, took to X, formerly Twitter, to slam the streamer for tweaking the poster of the Oscar-nominated film. “Who decided to remove ‘BORN TO KILL?’’ Modine blasted Amazon in his tweet, adding, “Not only did they alter a piece of iconic art by Philip Castle, but they completely misunderstood the point of it being there.”On the movie’s original poster, there’s a war helmet with the words “Born to Kill” written on it.
Everyone loves a good rom-com, and How to Lose a Guy in 10 Days is arguably one of the best of them!
Harry and Meghan have been in the spotlight after it emerged that the couple is considering sending their children to a 'prestigious' private school.
The woman who is said to have been a pillar of support for Eamonn Holmes following his split from Ruth Langsford has reportedly told her friends that she's in it for "the long haul". Relationship counsellor Katie Alexander, 42, has been spotted with the GB News presenter on several occasions over the past year and has even been photographed at his home.
Zack Sharf Digital News Director Matthew McConaughey recently told Glen Powell as part of an Interview magazine discussion that “it was scary” quitting Hollywood for two years when all that was being offered to him early in his career was romantic-comedy films. McConaughey was a king of the genre thanks to films like “The Wedding Planner,” “How To Lose A Guy In 10 Days,” “Failure To Launch,” “Fool’s Gold,” and “Ghosts Of Girlfriends Past,” nearly all of which grossed over $100 million at the worldwide box office. But the more rom-coms McConaughey made the less Hollywood wanted him starring in anything else.
The last major role of Donald Sutherland, who died today at the age of 88, was on the Paramount+ limited series Lawmen: Bass Reeves, headlined and executive produced by David Oyelowo.
Don’t Look Now and The Hunger Games, has died aged 88.With a career dating back to the 1950s, he is widely regarded as one of the most versatile and respected actors, winning numerous prestigious awards for his work in both film and television.His son Kiefer Sutherland, also an actor, announced on X earlier this evening (June 20) that his father had passed away. He reportedly died in Miami from a long illness.The statement read: “With a heavy heart I tell you that my father, Donald Sutherland, has passed away.
Netflix‘s EMEA chief has described his Los Gatos overlords as “very hands off” when it comes to content strategy outside the U.S.
The Sopranos reunited in New York earlier this week to speak at a panel at the Tribeca Film Festival.In celebration of the 25th anniversary of the US crime drama television series and the premiere of Alex Gibney’s documentary, Wise Guy: David Chase And The Sopranos, members of the cast and crew appeared for an exclusive panel interview.As reported by The Guardian, many cast members expressed their gratitude at being part of such a close team.Jamie-Lynn Sigler, who portrayed Meadow Soprano, said: “That set was home, these people were home, and they accepted you no matter what.” Meanwhile Robert Iler, who played A.K., now 39, said: “My friends are all going to shitty college reunions, and I get to come here.”Also in attendance was actor Steve Buscemi, who directed several episodes and guest-starred in season five. He spoke about reading the pilot script and admitting “I didn’t get it.” He explained how he then witnessed it become a huge success and thought, “Wow, I fucked up!”Executive producers Terence Winter (Boardwalk Empire, The Wolf Of Wall Street) and Matthew Weiner (Mad Men) joined the series’ creator David Chase at the panel.
Chicken Soup for the Soul Entertainment, the ailing parent of video kiosk operator Redbox and streaming services like Crackle and Popcornflix, has gotten rid of its entire board of directors.
Princess Catherine, aka Kate Middleton, took to social media to celebrate Father’s Day on Sunday (June 16).