Chicken Soup for the Soul Entertainment Expands International Plans by Acquiring Crackle International Trademarks From Sony Pictures

Rhea-AI Summary

Chicken Soup for the Soul Entertainment has acquired the international trademarks for Crackle from CPE Holdings (Sony Pictures), expanding its reach across more than 50 countries including Australia, Asia, Europe, and South America. This strategic move allows the company to offer its AVOD networks globally, joining its existing ownership of Popcornflix and Chicken Soup for the Soul trademarks. CEO William J. Rouhana Jr. stated that discussions are underway with international broadcasters to leverage this expansion.

Positive

• Acquisition of Crackle's international trademarks enhances global footprint.
• Strengthens portfolio alongside existing networks like Popcornflix.
• Potential for increased revenue through international AVOD offerings.

Negative

• None.

COS COB, Conn., July 15, 2021 (GLOBE NEWSWIRE) -- Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE), one of the largest operators of streaming advertising-supported video-on-demand (AVOD) networks, today announced the acquisition of Crackle international trademarks from CPE Holdings, Inc (“Sony Pictures”) in over 50 countries covering Australia, Asia, Europe, and South America.

“We are accelerating our growth by making a big commitment to offer our AVOD networks worldwide,” said William J. Rouhana Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “We already owned the international trademarks to our Popcornflix and Chicken Soup for the Soul networks as well as the trademarks for the U.S. and Canada for Crackle. By acquiring the international trademarks for Crackle, we are now in a position to offer all three of our primary networks across the globe. We have already begun discussions with international broadcasters and other media companies regarding these plans.”

The terms of the acquisition were not announced.

ABOUT CHICKEN SOUP FOR THE SOUL ENTERTAINMENT
Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) operates streaming video-on-demand networks (VOD). The company owns Crackle Plus, which owns and operates a variety of ad-supported and subscription-based VOD networks including Crackle, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Españolflix and FrightPix. The company also acquires and distributes video content through its Screen Media subsidiary and produces original long and short-form content through Landmark Studio Group, Chicken Soup for the Soul Unscripted, APlus.com and Halcyon Television. Chicken Soup for the Soul Entertainment is a subsidiary of Chicken Soup for the Soul, LLC, which publishes the famous book series and produces super-premium pet food under the Chicken Soup for the Soul brand name.

FORWARD-LOOKING STATEMENTS
This press release includes forward-looking statements within the meaning of the federal securities laws. Forward-looking statements are statements that are not historical facts. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of management and are not predictions of actual performance. Forward-looking statements are subject to known and unknown risks and uncertainties, including but not limited to those risks set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. These forward-looking statements speak only as of the date hereof and the Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

INVESTOR RELATIONS
Taylor Krafchik
Ellipsis
csse@ellipsisir.com
(646) 776-0886

MEDIA CONTACT
Kate Barrette
RooneyPartners LLC
kbarrette@rooneypartners.com
(212) 223-0561

FAQ

What is the significance of Chicken Soup for the Soul's acquisition of Crackle trademarks?

The acquisition enhances the company's global reach, allowing it to offer its AVOD networks in over 50 countries.

When was the acquisition of Crackle trademarks announced?

The acquisition was announced on July 15, 2021.

What companies are involved in the Crackle trademark acquisition?

Chicken Soup for the Soul Entertainment acquired the trademarks from CPE Holdings, which is associated with Sony Pictures.

How will the Crackle acquisition impact Chicken Soup for the Soul's stock CSSE?

The acquisition is expected to positively impact CSSE by expanding its market presence and potential revenue streams.

What are the potential benefits of acquiring Crackle's international trademarks?

The potential benefits include increased market penetration and new revenue opportunities through global AVOD services.