EXCLUSIVE: As crucial movie rental revenue finally starts to return, Redbox and Crackle parent Chicken Soup for the Soul Entertainment is taking steps to tighten its corporate belt.
Chatter in media and entertainment circles has been growing louder as Chicken Soup’s stock has skidded to an all-time low, putting its market value at $55 million.
It closed Tuesday at $2.60, half its level at the start of 2023 and well below its mark above $14 when the $375 million Redbox acquisition closed last August.
The operating environment, of course, has been grueling for all media companies over the past year, with stocks falling across the board and most players in cutback mode.
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