Chicken Soup for the Soul, the parent company of Crackle and other streaming platforms, has reached an agreement to acquire production-distribution outfit 1091 Pictures for $15.6 million. The pact …
The pact calls for Chicken Soup to acquire the New York-based company for $8 million in cash and the rest in stock. The deal brings to Chicken Soup a library of movies and TV series as well as its own streaming distribution platforms.
“The 1091 Pictures team transformed their large content library into a scalable, modern distribution platform with a compelling slate of channels that are a pragmatic addition to our existing assets,” said David Fannon, president of Screen Media Ventures. “There are great synergies between our two companies.
“This is the next evolution in our content library strategy,” said Elana Sofko, Chief Strategy Officer for Chicken Soup for the Soul Entertainment. “The genre content with loyal fan bases from 1091 Pictures includes music, over a dozen different sports, paranormal, and much more, enabling us to continue to grow both our streaming services and our FAST channels.
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