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.
Redbox
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. Founded in the heyday of DVDs two decades ago, Redbox is best known for its network of 38,000 bright red, disk-dispensing kiosks at convenience and grocery stores. It
EXCLUSIVE: Redbox, which has been revamping itself in recent months ahead of an initial public offering, has hired Amazon and Tubi communications veteran Peter Binazeski as head of public relations. In his new role, Binazeski will oversee all corporate, entertainment and industry communications. Long known for its kiosks dispensing DVDs and video game discs at
Home entertainment company Redbox said Monday it will go public in a merger with a SPAC called Seaport Global Acquisition Corp. The transaction will result in Redbox becoming a publicly traded company with an enterprise value of $693 million. Upon closing, Redbox’s common stock is expected to trade on Nasdaq under the ticker symbol RDBX.