Chicken Soup For The Soul Entertainment To Acquire Film And Television Assets Of Sonar Entertainment

Chicken Soup for the Soul Entertainment Inc. (CSSE) said that it agreed to acquire the film and television assets of Sonar Entertainment Inc.

Sonar is an independent television studio headquartered in Los Angeles with operations in Toronto and London.

In the first year after closing, Chicken Soup for the Soul Entertainment expects to recognize over $15 million in revenue with contribution of approximately $10 million in EBITDA from the Sonar assets.

The company anticipates significant expansion of revenue and EBITDA from Sonar's valuable television content development pipeline beginning in 2022.

The acquisition is expected to close in 30 days.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Southwest Airlines' flights across the United States were delayed for hours on Monday evening due to technical issue in a weather information system by a third-party weather data provider. The airline later resumed flight operations after solving the issue, but there were delays. The United Kingdom's Competition and Markets Authority or CMA announced Tuesday that it has launched a market study into mobile ecosystems of technology giants Apple Inc. (AAPL) and Google, Inc. (GOOG) over concerns they have market power which is harming users and other businesses. The CMA is taking... Eli Lilly and Co. (LLY) announced Tuesday that it will conduct a head-to-head study comparing once-monthly injectable Emgality (galcanezumab-gnlm) with Nurtec ODT (rimegepant), an orally disintegrating tablet patients take every other day. This study will help to advance the science of migraine treatment...
Follow RTT