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29.06.2024 / 19:41

Chicken Soup for the Soul Entertainment, Parent of Redbox, Files for Chapter 11 Bankruptcy Disclosing Nearly $1 Billion in Debt

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.

Warner Bros state Delaware Entertainment Courts reports Sony wellness Digital Universities

11.05.2022 / 15:29

Redbox to Be Acquired in $375 Million Deal by Chicken Soup for the Soul Entertainment

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).

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