Cosmo DeNicola Companies News


Monday, September 26, 2022

Steinberg Sports opens new action sports division, SSE Action

Steinberg Sports & Entertainment (SSE) announced a larger expansion into action sports representation through the creation of SSE Action. Veteran action sports agent Patrick Murphy will lead the division and serve as Senior Vice President of Action Operations. SSE Action boasts an elite client roster, including Olympic snowboarders Emily Arthur, Lucas Foster, and Courtney Rummel; U.S. Team snowboarders Sonny Alba and Ty Schnorrbusch; and U.S. skier Kate Gray.

 “We are excited to launch SSE Action to better serve the action sports and action content communities,” said SSE CEO Chris Cabott. “The mix of Patrick’s representation experience and SSE’s existing resources provides unparalleled opportunities for action talent to grow their careers.”

Murphy joined SSE in May when the agency acquired Equity Baseball. SSE CEO Chris Cabott told SBJ. “When we formed Equity Baseball earlier this year, of which Patrick Murphy is the COO, we learned that he also had an action sports clientele, including a number of Olympians. With SSE representing Nigel and Patrick having a long history in action sports, it made sense to form SSE Action.” Murphy’s son is a snowboarder, and he began meeting snowboarders while attending his son’s events, Murphy told SBJ. “During those years we traveled to numerous competitions throughout the country where I then met and developed relationships with many riders and industry insiders,” Murphy said. “I then signed my first snowboard clients after realizing that many of the riders that my son trained with while a member of the Mammoth Elite Team did not have professional representation, but instead were trying to market and represent themselves. The action sports practice grew from there.” SSE Action’s first clients include Olympic snowboarders Emily Arthur, Lucas Foster and Courtney Rummel; U.S. Team snowboarders Sonny Alba and Ty Schnorrbusch; and U.S. skier Kate Gray.

Monday, September 26, 2022

Steinberg Sports Signed Soccer Player Ally Lemos

Steinberg Sports and Entertainment (SSE) recently announced the signing of UCLA midfielder Ally Lemos for NIL (name, image and likeness) representation.Ally is the first female athlete to be signed by Steinberg Sports & Entertainment. Lemos is part of UCLA’s No. 1 ranked freshman class in the nation this year and is ranked No. 22 overall by Top Drawer Soccer. She attended San Dimas High School and as named the San Gabriel Valley Tribune Soccer Player of the Year and to the All-Area, All-CIF and all-league first teams.

“We are honored to welcome Ally to the SSE family,” said SSE CEO Chris Cabott. “SSE represents people of elite talent and elite character. Ally embodies both as an athlete and as a person, so this is a natural fit. Her agent at SSE, Patrick Murphy, is one of the best and brightest talent representatives that I have ever met. I believe in his vision for Ally, and I’m excited for what the future holds.”

Murphy says Lemos is in a prime position to capitalize on NIL opportunities.

“Ally Lemos is an exemplary young woman both on and off the pitch and a rising star in women’s soccer,” said agent Patrick Murphy. “We are honored and excited to welcome Ally into the SSE family, and I look forward to representing her in NIL opportunities.”

UCLA is coming off a big win against No. 1 and No. 2 ranked UNC and Duke teams, which should shine more of a spotlight on Lemos and the entire UCLA team. Lemos says she’s excited to work with SSE.

“It’s a dream come true to be joining the SSE family, and I’m so honored to be both their first female athlete and soccer player represented in the NIL space,” said Ally Lemos. “SSE represents many elite athletes, and I love the way they embrace and respect their athletes’ passions both on and off the field.

“My current passion is doing everything I can alongside my teammates at UCLA to bring a PAC-12 and national championship home. My forever mission is to always push the women’s game forward, and to not only be a champion for myself but to always be one for others as well.”

Lemos likely won’t be the only UCLA women’s soccer player generating interest in the NIL marketplace this year. Her current teammate Reilyn Turner was the first college athlete signed by Nike in December 2021, and UCLA’s performance on the field so far this season will certainly bring more attention to all the women

Tuesday, September 13, 2022

Next TV Innovation Awards 2022: William J. Rouhana

The Next TV Summit on September 13, part of the 10th annual NYC TV Week, will for the first time include the Next TV Innovation Awards, recognizing CEOs, technologists, strategists, creatives, marketers and other executives leading some of the most innovative companies in the video business. Each day from Sept. 2-13, our Next TV SmartBrief will profile one of our seven 2022 Innovation Awards honorees. (You can sign up for the SmartBrief here.) For more information about the summit and the award winners and other NYC TV Week events visit nyctvweek.com.

William J. Rouhana 

Chairman and CEO Chicken Soup for the Soul Entertainment 

The name Chicken Soup for the Soul conjures feel-good self-help books in big-box retailers. But increasingly, the name should evoke the fast-growing streaming-video company that William J. Rouhana also heads. 

Chicken Soup for the Soul Entertainment just pulled off another notable deal, buying struggling Redbox Entertainment to fill in most of what Chicken Soup still needed to achieve Rouhana’s vision of an AVOD-centered powerhouse precisely positioned for the future of TV. The deal has one overlap: It’s adding yet another small AVOD channel. 

The company already has Crackle, Popcornflix and, yes, Chicken Soup for the Soul. The new channel will expand ad inventory. But the deal also brought 36,000 video-rental kiosks, a transactional VOD service and a loyalty program with 40 million entertainment-loving customers. 

It also swelled the company’s library to 51,000 assets. In a techmedia market full of giant fish devouring smaller ones, Rouhana finds ways to keep on building. 

“We wouldn’t be the first company to use a legacy business to finance a new-age business,” he said. “This gives us an underlying stability. I like the combination of underlying businesses, in this case, as a way to reduce risk.”

Previously announced Next TV Innovation Award honorees:

Todd Achilles Co-founder, CEO and President, Evoca

Meredith Brace Chief Marketing Officer, Samba TV

Matt Duarte VP of Strategy and Business Development YES Network 

Shalini Govil-Pai GM and VP of TV Platforms, Google

Erick Opeka  Chief Strategy Officer, Cinedigm

Thursday, September 8, 2022

Chicken Soup For The Soul Becoming The Next Disney?

It started off as a self-help book that no one wanted to publish. It’s now a billion-dollar brand and multimedia conglomerate ready to give Disney a run for its money. It’s Chicken Soup for the Soul, and the creative minds behind the NASDAQ-traded corporation are looking to the Disney model to change the world of entertainment. And they are doing it with a family-friendly, inspirational approach to media. In a new report by The AV Club, the company claims it could become the next big thing by embracing the core values The House of Mouse once had, before a corporate mindset took over. They are doing it through more than books; it’s now a full-service entertainment company, including a free streaming service.

Chicken Soup For The Soul CEO Bill Rouhana has made several acquisitions in the last few years that are positioning the company to be much more than its original purpose of publishing inspirational books. It wants to be a full-service entertainment destination, highlighted by its recent acquisition of both Crackle (Sony’s free video streaming service) and Redbox, the still-popular DVD rental kiosks. The rebranding of Chicken Soup is not unprecedented in the media industry. AMC got its start as a classic movie channel called American Movie Classics, until Turner Classic Movies became the dominant network for such programming. AMC became a network that specialized in original programming, creating the shows Mad Men, The Walking Dead, Breaking Bad, and Better Call Saul. Chicken Soup wants to do the same thing. And sell you dog food as well.

Chicken Soup also expanded into other products that didn’t make much sense at the time but worked out in their favor. That included a line of dog food, that has turned out to be a hit, by using their brand to promote the “all-natural” product. They recently added Chicken Soup for the Soul Cat Food as well. After acquiring Crackle, the company also bought streamer PopcornFlix, as they prep their own streaming service, which is available to preview on Crackle but will soon be available as a stand-along service on Roku, Amazon Fire, and other providers. They have also been acquiring media companies, like Halcyon Studios, to purchase their content catalogs and make their own programming.

In 1993, the original Chicken Soup for the Soul book, by motivational speakers Jack Canfield and Mark Victor Hansen, became a New York Times bestseller by telling inspirational, true-life stories. A line of similar books followed, each geared to a different audience: Chicken Soup for the African American Soul, Chicken Soup for the Baseball Fan’s Soul, Chicken Soup for the Christian Soul, etc. Well over a hundred books have been written in the nearly thirty years since the first book went to print by a small publishing house, after every major publisher rejected it. Now, the company is looking to take the next step and become something more.

“It would be the kind of evolution that Disney went through,” Rouhana said in an interview about his vision for Chicken Soup for the Soul. “From a children’s entertainment company to a company that owns Marvel and Star Wars and a whole bunch of other things.

The company’s acquisition of 1091 Pictures and Screen Media Ventures, the production company behind The Outpost and Willy’s Wonderland (with Nicolas Cage), gives them the ability to make TV and movies on a bigger budget, and now with a streaming service to offer it on.

Thursday, September 8, 2022

Crackle Plus Unleashes Streaming Series ‘Pet Caves’ For PetSmart

Makeover show launches on Chicken Soup for the Soul AVOD service September 1

Cats. dogs, bunnies and more are coming to Chicken Soup for the Soul Entertainment’s ad-supported VOD service in Pet Caves, a new series created with sponsor PetSmart.

Pet Caves is hosted by pet behaviorist Kayla Oliver and celebrity design architect Nina Ferrer, who help animal lovers makeover rooms in their homes to accommodate their mostly furry family members.

In each episode, Oliver–who once worked at PetSmart no less–and Ferrer go to a PetSmart store for items and accessories they need to provide critter comforts.

The show will debut exclusively on the Chicken Soup for the Soul free streaming service, which is available on Vizio and Samsung smart TVs, starting September 1. Pet Caves will also be available for free on Sept. 15 via the company’s Crackle service. Redbox, recently acquired by Chicken Soup for Soul Entertainment, will also stream the show later this fall.

Darren Olive, executive VP of national sales and strategy for Crackle Plus, the Chicken Soup for the Soul division responsible for its streaming business, told Broadcasting+Cable that the idea for the show grew out of an annual meeting with PetSmart, already an ad client.

Chicken Soup for the Soul’s family-friendly programming over-indexes with pet owners and PetSmart was looking to reach audiences that no longer watch traditional television.

Crackle Plus hatched its Chicken Soup for the Soul AVOD network earlier this year, and “it really fit well into their initiative to target families in an environment that’s brand safe and trusted,” Olive said.

With streaming, Crackle is able to use pet ownership as a behavioral target to zero in on the consumers PetSmart is looking to reach.

In its discussions with Crackle Plus, PetSmart also said it was interested in integrating its brand direction into original programming, Olive said.

“We had been in development of the show Pet Caves kind of serendipitously as part of a push to do more branded content on our AVOD and fast channels,” Olive said. The show was a doggone good fit with the PetSmart tagline “Anything for Pets.”

“We said 'hey, we’ve got this show. It aligns really well with your tagline and what you’re looking to do.' It was an aha moment for us,” he said.

On top of that, Chicken Soup for the Soul has its own brand of pet food, which is sold at PetSmart. The Chicken Soup for the Soul brand pet food is being integrated into the series as well, Olive said.

“At PetSmart, we’re always seeking innovative ways to connect with pet parents and share our unrivaled expertise and love for pets,” says PetSmart senior vice president and chief marketing officer Will Smith. “Home is truly where our pets are, and what better way to show we’ll do anything for pets than by shining a light on the stories of people who revitalize their homes just for their furry, feathered, or scaly family friends? That’s exactly what Pet Caves does.”

In addition to being integrated into the show, PetSmart will be presenting the show with limited commercial interruptions. It will also get other show-adjacent opportunities, including custom billboards and pause ads (paws ads?) that show a static message from PetSmart when viewers pause the show.

Petsmart will also be featured in custom tune in ads and its commercials will run on Popcornflix and Red Box in addition to the Chicken Soup for the Soul and Crackle Channels.

Crackle Plus is also providing PetSmart with 20 short-form clips from the show it will distribute over its own social channels and internally to its employees.

Crackle Plus and PetSmart mutually agreed to have the show produced by TeamSheed Productions, a black-owned production company Crackle Plus had worked with before.

TeamSheed helped Crackle Plus and PetSmart showcase a diverse set of families as well as a broad range of pets, including a bearded iguana.

“We saw Pet Caves as a great opportunity to work with two beloved brands, Chicken Soup for the Soul Studios and PetSmart,” said Rasheed J. Daniel, principal and executive producer for Teamsheed. “As a black-owned business, we were also attracted to the diversity not only reflected in the show but also the values reflected in both of these esteemed organizations.”

It was also a stroke of luck that co-host Kayla Oliver had once worked at a PetSmart. “She had a great understanding of the brand and the company, so it was just this perfect marriage and perfect partnership,” Olive said. “We're hoping to springboard into a whole, a whole series of new shows and movies.”

Olive declined to say how much PetSmart is spending on Pet Caves, but said the retailer is now the company’s largest media partner in the pet category.

Pet Caves is executive produced by Rasheed J. Daniel of TeamSheed Productions and Michael Winter for Chicken Soup for the Soul Entertainment. Corey Noll and Lexi Brown serve as co-executive producers, and the series is distributed globally by Screen Media.  

Thursday, September 8, 2022

Crackle Plus and PetSmart to Launch New Original Makeover Series Pet Caves

Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) today announced it has partnered with PetSmart to create a 10-episode series celebrating pet parents who will do anything for their furry friends. Pet Caves will premiere exclusively on Chicken Soup for the Soul - a free AVOD streaming TV service available on VIZIO and Samsung-connected TVs beginning September 1. The series will also be available on demand for free on September 15 via Crackle on CTVs, mobile and tablet devices as well as at Crackle.com. 

Featuring pet owners transforming a space in their home to make their pets as happy as their pets make them, Pet Caves is hosted by Atlanta-based pet behaviorist Kayla Oliver and celebrity design architect Nina Ferrer (HGTV’s Design Star and Clean House New York). In each episode, Kayla and Nina visit a PetSmart store to outfit the dazzling domicile with all the latest and greatest pet necessities and accessories. Dogs, cats, bunnies, and even a bearded dragon all get the white glove treatment to turn their living space into their own private pet paradise. 

In addition to PetSmart products and services highlighted in each episode, the series will also feature strategic media buys and other tailored content from PetSmart across Crackle Plus’ network of streaming services.   

 

“We saw Pet Caves as a great opportunity to work with two beloved brands, Chicken Soup for the Soul Studios and PetSmart,” said Rasheed J. Daniel, principal, and executive producer for Teamsheed. “As a black-owned business, we were also attracted to the diversity not only reflected in the show but also the values reflected in both of these esteemed organizations.” 

“Our partnership with PetSmart perfectly reflects our commitment to provide like-minded brand partners with the opportunity to act as creative collaborators on our quality programming and to pursue unique integrations,” said Darren Olive, executive vice president of National Sales and Strategy for Crackle Plus. “We continue to double down on bringing a fresh viewing experience to our audience who are not only savvy consumers but are also interested in the ways in which content can go beyond the screen.”

 

“At PetSmart, we’re always seeking innovative ways to connect with pet parents and share our unrivaled expertise and love for pets,” says PetSmart senior vice president and chief marketing officer Will Smith. “Home is truly where our pets are, and what better way to show we’ll do anything for pets than by shining a light on the stories of people who revitalize their homes just for their furry, feathered, or scaly family friends? That’s exactly what Pet Caves does.”

The series is executive produced by Rasheed J. Daniel of TeamSheed Productions and Michael Winter for Chicken Soup for the Soul Entertainment. Corey Noll and Lexi Brown serve as co-executive producers, and the series is distributed globally by Screen Media.

 

Crackle Plus’ recent releases include the plus-size mountain climber documentary Kili Big, season 2 of the hit college thriller series In the Vault, the exclusive scripted series Les Norton, starring Rebel Wilson, the sci-fi series Salvage Marines starring Casper Van Dien, Inside the Black Box, hosted by Joe Morton, and the award-winning BBC series Sherlock, starring Benedict Cumberbatch and Martin Freeman. Crackle Plus also recently announced season three of the award-winning series Going From Broke.

 

The Crackle Plus and Redbox streaming services are currently distributed through over 140 touchpoints in the U.S. on platforms including Amazon Fire TV, RokuTV, Apple TV, Smart TVs (Samsung, LG, Vizio), gaming consoles (PS4 and Xbox One), Plex, iOS, and Android mobile devices and on desktops at Crackle.com and Redbox.com, with plans to expand to over 160 touchpoints.

 

ABOUT PETSMART

PetSmart LLC is the leading pet retailer offering products, services and solutions for the lifetime needs of pets. At PetSmart, we love pets and we believe pets make us better people. Every day with every connection, PetSmart’s passionate associates help bring pet parents closer to their pets so together they can live more fulfilled lives. This vision impacts everything we do for our customers, the way we support our associates and how we give back to our communities.

 

PetSmart operates approximately 1,660 pet stores in the United States, Canada and Puerto Rico, as well as more than 200 in-store PetSmart PetsHotel® dog and cat boarding facilities. We provide a broad range of competitively priced pet food and products as well as services such as dog training, pet grooming, pet boarding, PetSmart Doggie Day Camp™ and pet adoption.

 

PetSmart, PetSmart Charities® and PetSmart Charities® of Canada work with nearly 4,000 animal welfare organizations to bring adoptable pets into stores so they have the best chance possible of finding a forever home. Through this in-store adoption program and other signature events, PetSmart has facilitated over 10 million adoptions, more than any other brick-and-mortar organization.

 

ABOUT TEAMSHEED

TeamSheed Productions is a full-service production company dedicated to premium reality, commercial, film, and documentary content. Launched in 2020, Teamsheed’s vision is to continually redefine storytelling by offering a solution to proper representation bundled with a history of battle-tested production strategies and hit-making execution. TeamSheed is a private Black-owned company with production and development partners across the US.

 

Thursday, September 8, 2022

Lifebrand CEO Thomas Colaiezzi named Titan 100

Titan CEO and headline sponsor Wipfli LLP are pleased to announce the 2022 Philadelphia Titan 100. The Titan 100 program recognizes Philadelphia’s Top 100 CEO’s & C-level executives. They are the area’s most accomplished business leaders in their industry using criteria that includes demonstrating exceptional leadership, vision, and passion. Collectively the 2022 Philadelphia Titan 100 and their companies employ upwards of 70,000 individuals and generate over $14 billion dollars in annual revenues. This year’s honorees will be published in a limited-edition Titan 100 book and profiled exclusively online. They will be honored at the annual awards ceremony on September 8th, 2022 and will be given the opportunity to interact and connect multiple times throughout the year with their fellow Titans. “The Titan 100 are shaping the future of the Philadelphia’s business community by building a distinguished reputation that is unrivaled and preeminent in their field. We proudly recognize the Titan 100 for their successes and contributions. We know that they will have a profound impact that makes an extraordinary difference for their customers and clients across the nation.” says Jaime Zawmon, President of Titan CEO.

The Titan 100 embody the true diversity of the Philadelphia business landscape. Representing technology, manufacturing, education, healthcare, construction/real estate, staffing, professional services, hospitality, transportation, and non-profit organizations among many others. The annual Titan 100 awards celebration on September 8th, 2022, will be held at The Drexelbrook located in Drexel Hill, PA. From hosting American Bandstand with Dick Clark to surviving a 1978 fire, the Drexelbrook has changed and evolved for more than 70 years to best suit the community as a private club, hotel, and event center. This unique cocktail-style awards event will gather 100 Titans of Industry and their guests for an evening unlike anything that exists in the Philadelphia business community.

“On behalf of the partners and associates at Wipfli we congratulate all the Titan100 winners. It’s an honor to recognize this diverse group of leaders in the Philadelphia community. We appreciate the lasting impact each leader has made, and continues to make, in building organizations of significance that in many cases have not only local but national and international reach. Your ingenuity and creativity have set you apart, and the honor of being seen as an industry Titan is richly deserved,” says W. Bradley Baturka, Mid Atlantic Leader and Partner at Wipfli.

About Titan CEO

Titan CEO brings CEOs together through private events and roundtables. We also provide private, instructor-led peer groups for Titan CEO members. Held monthly, our CEO peer groups are designed to meet a CEOs unique need as a business leader by facilitating curriculum that helps to build business valuation and tackle everyday business challenges. We offer a suite of resources including private coaching, high-level networking, and executive level retreats. Through our community, we aim to work with CEOs to help them connect and grow as Titans of industry.

 

About Wipfli LLP

At Wipfli, we're committed to providing industry-focused assurance, accounting, tax and consulting services that make a lasting, positive impact on our clients — helping them overcome personal and business challenges and plan for future success. Wipfli ranks among the top 20 accounting and business consulting firms in the nation, with more than 127,000 clients and 3,100 associates. We're proud to give our clients the value and experience of a diverse firm that specializes in a wide range of services and industries, dedicated to enduring results, outstanding service and lifetime relationships. Learn more at wipfli.com.

 

About LifeBrand

LifeBrand has and will continue to develop the most advanced technology to detect and remove potentially harmful content from users’ social media pages. Their mission is to be the worked leader in Social Media Background Check Technology.

 

TJ Colajezzi Bio

Thomas "T.J." Colaiezzi spent nearly two decades as a high-level executive in the fitness industry. It was here that he realized that social media was too important to overlook during the hiring process. It bothered him that almost every company “snoops” on candidates' social media behind the scenes. TJ became determined to bring social media screening “above table” by including employees in the process in hopes of making social media background checks as compliant and commonplace as criminal background checks and credit checks.
After months of searching for a compliant solution that gets users' consent and protects both employees and employers alike, he couldn’t find anything.

That’s when TJ saw that a huge problem existed that needed a solution. That’s when LifeBrand was born.
TJ is a self-proclaimed entrepreneur and business nerd, fascinated by the process of starting something small and growing it into something special. Outside of work, he loves spending time with his family (especially his two daughters), woodworking, golfing, watching all Philadelphia Sports Teams, and enjoying good food and fine spirits.

Tuesday, August 30, 2022

Chicken Soup for the Soul Entertainment Completes Acquisition of Redbox Entertainment Inc.

Acquisition creates an entertainment company for value-conscious consumers across AVOD, FAST, and TVOD with over 40 million customer loyalty members

Revenue is expected to more than triple over the next year; increased scale and over $40 million in operating synergies support an accelerated path to positive free cash flow  

Adds over 11,000 additional movies and television shows to the company’s already robust 40,000-title streaming catalog, as well as Free Live TV platform with over 145 free ad-supported streaming television (FAST) channels and transactional video on demand (TVOD) platforms available on dozens of devices

Redbox’s 36,000 kiosks will expand the company’s touchpoints for advertisers beyond free streaming channels and provide new marketing capability to promote original movies  

Galen C. Smith appointed to the new role of executive vice chairman of Redbox and Chicken Soup for the Soul Entertainment, and entertainment industry veteran Jonathan Katz named president of Chicken Soup for the Soul Entertainment

COS COB, Conn. & OAKBROOK TERRACE, Ill.--(BUSINESS WIRE)--Chicken Soup for the Soul Entertainment (NASDAQ: CSSE) today announced the company has completed the acquisition of Redbox Entertainment Inc. (NASDAQ: RDBX) – creating an entertainment content and distribution offering targeting value-conscious consumers. The combined companies now offer ad-supported video on demand (AVOD), over 145 free ad-supported streaming television (FAST) channels, transactional video on demand (TVOD), and a network of over 36,000 kiosks nationwide, all supported by original film and television production and distribution divisions. The company expects revenue to more than triple through this acquisition to approximately $500 million annually.

Today, the company also announced the appointment of two key media executives with deep knowledge of the entertainment and streaming space to drive its continued growth. Galen C. Smith, former chief executive officer of Redbox, has been appointed to the new role of executive vice chairman of Redbox and Chicken Soup for the Soul Entertainment. Smith will oversee the company’s future growth plans, including strategic acquisitions. Also announced today, Jonathan Katz has been named president of Chicken Soup for the Soul Entertainment. Katz previously held senior executive roles at Scripps Networks, Katz Networks, and Turner Broadcasting. In his new role, Katz will oversee the company’s operating businesses, including streaming services, Redbox kiosks, and original content studios. Smith and Katz will report to William J. Rouhana, Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment.

“I’ve been looking forward to the day Redbox would become part of the Chicken Soup for the Soul Entertainment family – and today is that day. The Redbox brand is a fixture in American entertainment and now joins our powerful portfolio of streaming brands, including Crackle, Popcornflix, and Chicken Soup for the Soul,” said William J. Rouhana, Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “This acquisition gives us immediate scale, growing our film and television library to over 51,000 assets, establishing a broad complement of AVOD, TVOD, and FAST channel services, reaching millions of viewers across dozens of platforms, and adding Redbox’s 36,000 kiosks nationwide, with a customer loyalty program that has over 40 million members. These collective assets create a fully formed streaming business for a new era of digital entertainment that we anticipate will accelerate the growth and profitability of our company well ahead of our original plans. The team at Redbox is incredible and will join an equally talented team across our Chicken Soup for the Soul Entertainment companies. I’m excited to welcome our new colleagues and look forward to sharing more about our plans for the future.”

Financially Compelling

Chicken Soup for the Soul Entertainment expects that the combined company will exit 2022 with a run rate exceeding $500 million of revenue and $100 - $150 million of Adjusted EBITDA and expects to deliver annual run rate cost synergies in excess of $40 million in 2023. The combined company also sees numerous opportunities to drive revenue synergies from its complementary assets, including expansion of ad inventory through distribution of its larger content library and production pipeline across AVOD and FAST channels, and increased access to the TVOD window for original film productions. Additionally, the Redbox kiosk network and loyalty program offer a new marketing channel to promote the company’s original content productions.

Transaction Details

Chicken Soup for the Soul Entertainment had already approved the transaction at the time of signing. Redbox shareholders approved the transaction on August 9. Existing Redbox shareholders 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. As previously announced, Chicken Soup for the Soul Entertainment stockholders will own approximately 76.5% of the combined company, and Redbox stockholders will own approximately 23.5% of the combined company, on a fully diluted basis.

As part of the transaction, Chicken Soup for the Soul Entertainment has assumed the obligations under Redbox’s outstanding private and public warrants including those that traded on the Nasdaq Global Market under the symbol “RDBXW.” The warrants replacing the former Redbox warrants will be issued on a one for one basis and entitle the holder to receive upon exercise shares of CSSE Class A Common Stock equal to the product of (A) the number of shares of Redbox Class A Common Stock that were subject to the holder’s Redbox warrants and (B) 0.087 (the “Exchange Ratio”), with a corresponding change to the exercise price of such warrant based on the Exchange Ratio. No fractional share will be issued upon warrant exercise. Accordingly, a holder will be required to surrender the equivalent of warrants to acquire 11.494 shares of Redbox Class A Common Stock in order to purchase one share of CSSE Class A Common Stock upon exercise of the warrants. The per-share exercise price for the warrants will be $132.18 per share. This is calculated by dividing the current $11.50 per-share exercise price of the former Redbox warrants by the Exchange Ratio. It is anticipated that the new public warrants will commence trading on the Nasdaq Global Market on or about Friday, August 12, 2022 under the symbol “CSSEL.”

 

About Redbox

Redbox Entertainment Inc. (pre-transaction symbol on NASDAQ: RDBX) is a leading entertainment company that gives consumers access to a large variety of content across digital and physical media. The company operates a rapidly growing digital streaming service that provides both ad-supported (AVOD) and paid movies from Hollywood studios and hundreds of content partners, as well as over 145 channels of free ad-supported streaming television (FAST). The Redbox app is available on major entertainment platforms that include Roku devices, connected TVs, gaming platforms, the web as well iOS and Android devices. Redbox also operates its popular kiosks across the US at thousands of retail locations – giving consumers affordable access to the latest in entertainment. The company produces, acquires, and distributes movies through its Redbox Entertainment™ label, providing rights to talent-led films that are distributed across Redbox’s digital and physical services as well as through third-party digital services. Headquartered just outside of Chicago, Redbox has offices in Los Angeles and Seattle. For more information, visit www.redbox.com.

 

Tuesday, August 30, 2022

CHICKEN SOUP FOR THE SOUL ENTERTAINMENT ANNOUNCES ENHANCED SENIOR LEADERSHIP TEAM

Company creates a broader management structure that adds former Redbox leadership to support rapid growth and scale 

 

COS COB, Conn.– Chicken Soup for the Soul Entertainment’s (NASDAQ: CSSE) chairman and chief executive officer, William J. Rouhana, today announced the formation of a new senior leadership team drawn from both Chicken Soup for the Soul Entertainment and Redbox. As previously announced, entertainment and streaming industry veterans Galen C. Smith, executive vice chairman, and Jonathan Katz, president, will lead this team of executives across a number of areas to support the company’s rapid growth. Both Smith and Katz will report to Rouhana.

 

The Chicken Soup for the Soul Entertainment leadership team will consist of:

 

Galen Smith, executive vice chairman of Redbox and Chicken Soup for the Soul Entertainment, will oversee all long-term planning for the company, including strategy, mergers and acquisitions (M&A), and corporate services. Reporting to him:

 

Senior Vice President Corporate Communications, Peter Binazeski – Heads the company’s corporate communications and public relations; 
Chief People Officer, Marisa Famulare – Continues to direct all people functions;
Chief Innovation Officer, Jason Kwong – Shifts duties to newly expanded role incubating and developing future areas of growth for the combined business;
Chief Financial Officer, Chris Mitchell – Continues responsibility for all financial operations, capital structure, and investor relations;
Chief Strategy Officer, Elana Sofko – Continues to manage M&A activities and international expansion; and
Chief Legal Officer, Fred Stein – Expands his Redbox role to oversee all legal, business affairs and risk management. 

 

JJonathan Katz, president, will oversee day-to-day operations, including the company’s streaming, kiosk, distribution, and studio businesses. Reporting to him:

Chief Operating Officer and President, Redbox Service, Michael Chamberlain – Continues to oversee the operations of the Redbox kiosk business, and leads the growing kiosk service business;
Chief Executive Officer, Studios, David Ellender – Continues to lead the Chicken Soup for the Soul Television Group, developing and producing original content for all owned-and-operated platforms, now including Redbox kiosks and streaming, as well as third-party productions;
Chief Acquisitions & Distribution Officer, David Fannon – Continues to oversee all domestic and international content acquisition and distribution, expanding his purview to include Redbox, and continues in his role as President of Screen Media Ventures;
Chief Marketing Officer, Mike Feldner – Adds the combined company to his Redbox role, heading up all marketing, branding, and creative services, along with leading the company’s analytics and insights team;
Chief Revenue Officer, Philippe Guelton – Expands role to lead all advertising sales and operations, as well as revenue partnerships across the company; and 
Chief Digital Officer, Adam Mosam – Adds to his responsibilities oversight of the company’s streaming businesses, including product, technology, and platform distribution.

 

“Our new senior leadership team brings together some of the best executives in the streaming and entertainment business and sets us up for continued success,” said Bill Rouhana, chief executive officer and chairman, Chicken Soup for the Soul Entertainment. “Our company is scaling rapidly – especially after our recent acquisition of Redbox. As we continue to grow, this team has the knowledge, skill, and drive to build a major company that delivers premium entertainment to value-conscious consumers. I’m very excited about the future of Chicken Soup for the Soul Entertainment.”

Wednesday, June 29, 2022

Warriors acquire No. 44 pick in 2022 NBA draft, select Toledo's Ryan Rollins

Brooklyn, NY - The Warriors acquired the No. 44 overall selection from the Atlanta Hawks. With Bob Myers and Steve Kerr back on the clock, Golden State added guard Ryan Rollins out of Toledo in the second round.

Rollins spent two seasons at Toledo, averaging 16.4 points on 45.3% shooting from the floor with 5.6 rebounds and 3.1 assists in 64 total games. In his sophomore season, the 19-year-old averaged 18.9 points on 46.8% shooting from the field and 31.1% shooting from beyond the arc with six boards and 3.6 assists in 34 games.

Against Coastal Carolina, Rollins caught fire, scoring 35 points on 12-of-20 shooting from the floor with four triples, four boards, three steals and an assist in 34 minutes. 

On the way to leading Toledo to a MAC regular-season championship, Rollins was named to the All-MAC first team.

Along with first-round pick Baldwin Jr., Rollins will slide in with Golden State’s young core that features Jonathan Kuminga, Moses Moody and James Wiseman.

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