Kourtney Kardashian holds hands tight with her new husband, Travis Barker, while out and about in Milan, Italy on Friday (May 27).
11.05.2022 - 15:29 / variety.com
Todd Spangler NY Digital EditorRedbox Entertainment, the struggling DVD kiosk and streaming video company, has set a deal to be acquired by Chicken Soup for the Soul Entertainment in an all-stock transaction.The company will operate more than 38,000 kiosks nationwide as well as digital media services spanning ad-supported and transactional video services. The deal is valued at $375 million, comprising about $50 million in stock and the new company’s assumption of $325 million in debt.The deal comes after Redbox in October 2021 became a publicly traded company after merging with a special purpose acquisition company (SPAC).
Last month Redbox laid off 150 employees, roughly 10% of its total headcount, amid a steep slowdown in business and growing net losses. Under the terms of the agreement, which has been approved by the boards of both companies, Redbox stockholders will receive a fixed exchange ratio of 0.087 of a share of class A common stock of Chicken Soup for the Soul Entertainment per Redbox share.
Following the close of the transaction, Chicken Soup for the Soul Entertainment shareholders will own 76.5% of the combined company and Redbox stockholders will own approximately 23.5% of the combined company on a fully diluted basis.The companies expect the deal to close in the second half of 2022, subject to regulatory approvals and other customary closing conditions. Upon closing, the combined entity will retain the name Chicken Soup for the Soul Entertainment and will continue to trade under the ticker symbol “CSSE” on the Nasdaq stock exchange.“Today marks a transformative moment for Chicken Soup for the Soul Entertainment and an inflection point for the ad-supported streaming industry,” Bill Rouhana Jr., chairman
.Kourtney Kardashian holds hands tight with her new husband, Travis Barker, while out and about in Milan, Italy on Friday (May 27).
Kourtney Kardashian and Travis Barker have been spotted loved-up and laughing on their honeymoon in Milan. The pair had recently tied the knot at a Santa Barbara courthouse, celebrating their union with family and friends in Portofino, Italy, over the weekend.
EXCLUSIVE: Aaron Kaplan’s Kapital Entertainment, Crazy Rich Asians producer SK Global, Jeff Sagansky and Florence Sloan have teamed to launch Jaya Entertainment, a content company focused on developing, producing and financing premium international series. Top TV producer Kaplan, prominent media investor Sagansky, Sloan and SK Global (via Ivanhoe Pictures) previously partnered in a Mumbai-based venture that produces hit Hindi-language Netflix series Delhi Crime, which won the International Emmy Award for Best Drama Series and returns for a second season on the streamer later this year.
Conan O’Brien is getting a huge payday thanks to his podcast empire.
Patrick Frater Asia Bureau ChiefUn Certain Regard title “Return to Seoul” from French-Cambodian director Davy Chou caused an early stir by being one of the first Official Selection titles from this year’s Cannes to secure a U.S. release — through Sony Pictures Classics. That may be a reflection of Chou’s quest for authenticity in a bi-cultural tale about a European-raised woman and her biological family in Korea.
GFRIEND member Yerin has shared a teaser for her upcoming debut solo single ‘Aria’, from her first mini-album of the same name.In the vibrant clip Yerin is perched on a swing, and smiles as gigantic flowers bloom around her and petals fall from the sky. In another scene, she dances to a snippet of the track with a group of backup dancers.
Sony Pictures Classics has acquired the North American rights and other territories to “All The People I’ll Never Be,” a film from writer and director Davy Chou that is playing in the Un Certain Regard section on Sunday at the Cannes Film Festival. SPC is also planning on re-titling the movie in English, “Return to Seoul,” which is the translation of its actual title in French. In addition to North America, the distributor also acquired rights to the film in Latin America, Middle East, Australia and New Zealand.“All The People I’ll Never Be” is the story of a 25-year-old woman who, on an impulse, returns to South Korea for the first time where she was born before being adopted and raised in France.
Ahead of its world premiere in Un Certain Regard section of Cannes, the Davy Chou directed and written feature All the People I’ll Never Be has been picked up by Sony Pictures Classics.
Manori Ravindran International EditorWarner Bros. Discovery’s international streaming lead JB Perrette has said that an extensive joint venture with BT Sport, which was confirmed on Thursday, ensures that the company won’t be a “one-product, one-content type story,” particularly in the U.K.The 50-50 sports joint venture between Warner Bros.
Breaking records on and off the field? Fox spoke out about the reported $375 million deal Tom Brady signed to become the network’s lead NFL analyst once he retires from football for good.
revenues fell from $858 million in 2019 to just $289 million last year.A SPAC merger taking the company public on Nasdaq last fall injected $145 million in cash, but the financials still suffered. Shares continued to slide from a November 2021 high near $18 to just over $2 in mid-April of this year.
In a streaming deal struck with an eye toward the current high-inflation economic environment facing consumers, Crackle parent Chicken Soup for the Soul Entertainment is acquiring Redbox.
Thania Garcia South Korean entertainment giant HYBE has reported a generated revenue of approximately $226 million — an increase of 59.8% — for the first quarter of the year.In 2021, the music company announced a billion-dollar annual revenue for the first time, thanks largely in part to Scooter Braun‘s megamerger agreement (between Ithaca Holdings and HYBE). Since then, the return of live music and large-scale events has unequivocally propelled revenue.Two of the top contributors were HYBE America artist Justin Bieber, whose “Justice” world tour launched in February, and of course BTS, whose “BTS Permission to Dance on Stage: Seoul” screening made it big at the global box office; the limited release raked in $32.6 million from 3,711 cinemas in 75 worldwide theatrical markets.