COS COB, CT – Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) (“the Company”), one of the largest operators of streaming advertising-supported video-on-demand (“AVOD”) networks, today announced the closing of the previously announced acquisition of the assets of 1091 Media, LLC comprising its distribution business known as “1091 Pictures”. The purchase price was approximately $15.6 million in cash, Series A perpetual preferred stock and Class A common stock.

Salem Partners acted as the exclusive financial and investment banking advisor to 1091 Pictures, with Stephen Prough and Ivar Combrinck leading the process and negotiations. Lisa Weiss from Chatillon Weiss acted as exclusive legal advisor to 1091 Pictures. Brian Ross from Graubard Miller acted as exclusive legal advisor to Chicken Soup for the Soul Entertainment, Inc.