Edition:
India

Sony Pictures, Chicken Soup For The Soul Entertainment Form "Crackle Plus"


Friday, 29 Mar 2019 

March 28 (Reuters) - Chicken Soup for The Soul Entertainment Inc ::SONY PICTURES TELEVISION AND CHICKEN SOUP FOR THE SOUL ENTERTAINMENT FORM JOINT VENTURE “CRACKLE PLUS”.CHICKEN SOUP FOR THE SOUL ENTERTAINMENT - SPT'S CONTRIBUTIONS TO JV INCLUDE CRACKLE'S U.S. ASSETS INCLUDING CRACKLE BRAND, MAUS AND AD REP BUSINESS.CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - UNDER TERMS, CSS ENTERTAINMENT WILL OWN MAJORITY INTEREST IN JOINT VENTURE.CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - WILL POSITION "CRACKLE PLUS". AS A AVOD STREAMING PLATFORM.CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - SPT WILL RECEIVE 4 MILLION 5-YEAR WARRANTS TO PURCHASE CLASS A COMMON STOCK OF CO AT VARIOUS PRICES.CHICKEN SOUP FOR THE SOUL ENTERTAINMENT - SPT & JV TO ENTER LICENSE AGREEMENT FOR RIGHTS TO POPULAR TV SERIES & MOVIES FROM SONY PICTURES ENTERTAINMENT.CHICKEN SOUP FOR THE SOUL ENTERTAINMENT - OWNERSHIP OF CRACKLE'S ORIGINAL CONTENT WILL BE RETAINED BY SPT, WILL BE MADE AVAILABLE FOR LICENSING TO JV.CHICKEN SOUP FOR THE SOUL ENTERTAINMENT - ADDITION OF CRACKLE ASSETS IS EXPECTED TO MORE THAN DOUBLE CSS ENTERTAINMENT'S OVERALL REVENUE.CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - CRACKLE PLUS EXPECTED TO HAVE COMBINED AUDIENCE OF NEARLY 10 MILLION MAUS ON OWNED AND OPERATED NETWORKS.CHICKEN SOUP FOR THE SOUL ENTERTAINMENT INC - CRACKLE PLUS IS EXPECTED TO HAVE OVER 1.3 BILLION MINUTES STREAMED PER MONTH.