RDBX - RDBX STOCK NEWS

Chicken Soup for the Soul Entertainment (CSSE) has successfully acquired Redbox Entertainment (RDBX), creating a large-scale entertainment platform targeting value-conscious consumers. This merger is anticipated to increase annual revenue to approximately $500 million, with expected synergies of over $40 million. The acquisition adds over 11,000 movies to its existing 40,000-title catalog and expands its ad-supported video offerings significantly. Key executives have been appointed to oversee the merger, aiming for a seamless integration that enhances market competitiveness and growth.

Redbox Entertainment Inc. (NASDAQ: RDBX) announced that stockholders approved a merger proposal with Chicken Soup for the Soul Entertainment Inc. (NASDAQ: CSSE). During a Special Meeting, approximately 87.9% of Redbox shares were present, with about 85.04% voting in favor of the merger. The merger is expected to enhance Redbox's digital transformation and expand its market presence, enabling growth in both its Legacy and Digital Business segments.

Redbox Entertainment has secured North American distribution rights for the WWII action-drama film Come Out Fighting, directed by Steven Luke and starring Kellan Lutz and Michael Jai White. The film, based on true events, follows an American pilot's encounter with a secret Nazi weapon during the war. It is set to premiere in 2022, with a limited theatrical release and On Demand availability. The acquisition is expected to enhance Redbox's content library, aligning with its strategy to provide diverse entertainment options for audiences.

Redbox (NASDAQ: RDBX) announced that Chief Financial Officer Kavita Suthar will resign effective May 16, 2022, to focus on family. Suthar, who joined Redbox in 2015 and became CFO in 2020, was instrumental in the company’s SPAC merger and subsequent public listing. Mitchell Cohen will serve as interim CFO while Suthar will assist in the transition. CEO Galen Smith acknowledged Suthar's contributions during her tenure.

Redbox (NASDAQ: RDBX), a major entertainment company, will present at the 2022 Virtual ICR Conference on January 11 at 2:00 PM ET, and at the 24th Annual Needham Virtual Growth Conference on January 13 at 2:45 PM ET. The company will also conduct one-on-one meetings at both events. Redbox provides access to a variety of content via its digital streaming service and physical kiosks across the U.S., offering affordable entertainment options. More details are available on their Investor Relations website.

Redbox (NASDAQ: RDBX) has announced its top movies of 2021 across various platforms, with Free Guy leading in On Demand rentals and The Croods: A New Age as the top kiosk rental. The top AVOD title is Texas Killing Fields. Celebrating its 20th anniversary, Redbox continues to expand its digital streaming services and recently surpassed 130 FAST channels in its Free Live TV service. CEO Galen Smith expressed optimism for growth in the digital business in 2022, emphasizing the popularity of their kiosks and streaming services.

Quotient (NYSE: QUOT) has partnered with Redbox (NASDAQ: RDBX) to expand its media network.

Advertisers can access around 40,000 Redbox kiosks and over 2,000 large display screens. This collaboration leverages Quotient's digital-out-of-home (DOOH) platform, enhancing advertising opportunities with an estimated 400 million retail impressions weekly. Advertisers can retarget audiences across various digital platforms, aiming to connect with consumers during high purchase intent moments.

Redbox (NASDAQ: RDBX) has partnered with LG Electronics to launch five Free Ad Supported Television (FAST) channels on LG Channels, accessible via LG Smart TVs from 2016-2021. These channels include Redbox Free Movies, War and Westerns, Holiday, Rewind, and Romance, expanding Redbox's streaming footprint. Redbox Free Movies has already launched, offering popular films such as City of Angels and The Postman. This agreement supports Redbox's strategy to grow its digital streaming services and enhance brand visibility through LG's extensive user base.

Redbox (NASDAQ: RDBX) has announced the installation of digital video signage on over 2,000 kiosks across the U.S., with plans for nearly 4,000 total installations. This initiative is part of a collaboration with Velocity, enhancing promotional opportunities for new movie releases and its streaming service. The digital signage aims to engage millions of consumers in high-traffic locations. Direct ad sales will be managed by Redbox in partnership with Screenvision. The CEO emphasizes the potential for increased advertising capabilities and successful initial testing of the screens.