Chicken Soup for the Soul Entertainment, parent of ad-supported streaming services like Crackle, reported disappointing second-quarter results but showed sharp gains in advertising and licensing revenue
service, showed increases in the high teens in the month of June over June 2020, the company said, despite a major streaming boost a year ago from Covid-19 and widespread lockdowns.Rouhana was asked about M&A given the race for scale in the streaming business, in which media players many times larger than Chicken Soup have conceded they’re not big enough. After going public in 2017, the company has amassed a market value of just shy of $500 million.
Without offering any specifics, the CEO said his answer for the near term is different than the one for the long term. The company itself has pulled off savvy M&A deals, among them taking over Crackle from Sony in a virtually cash-free transaction and also buying Screen Media for a reported song. Yet it in turn has received inbound interest lately, no surprise given the urgency of the streaming chase and the favorable dealmaking climate.
“In the short term, we’re small enough that we can bigger enough that it makes a difference in terms of creating shareholder value,” Rouhana said. “We can materially grow our business in a sensible way in the near term and be a much more valuable company. In the long term, one of the ways that value is likely to be recognized is because we become combined with somebody bigger. ….
He added that he is “certain” that the company will eventually decide to merge or be acquired, but that day has not yet arrived.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Jill Duggar spends time with fellow Christian influencer Audrey Roloff during Oregon tripCounting On's Jill Duggar spent time with former Little People Big World's Audrey and Jeremy Roloff
Leer más »
Japan's stocks set to rise as Wall Street sails to records on $1 trillion infrastructure planThe U.S. Senate's infrastructure plan, which includes $550 billion in new spending on transportation and broadband, is expected to help boost the economy.
Leer más »
AMC Entertainment’s Revenue Surges as Moviegoers Return to TheatersAMC's revenue tripled in the June quarter from the year’s first three months, as moviegoers returned to theaters in the spring amid increased vaccinations and subsiding pandemic restrictions
Leer más »
24 Fascinating Facts About The Lives Of Iconic Stand-Up ComediansJerry Seinfeld got banned from the restaurant that inspired Seinfeld’s “Soup Nazi” episode.
Leer más »
70 Insanely Delicious Ways to Enjoy Chicken Breasts at Any MealIt's time to breathe some new life into that bird and never eat bland chicken again thanks to these fast, fresh, and delicious chicken breast recipes.
Leer más »
70 Insanely Delicious Ways to Enjoy Chicken Breasts at Any MealIt's time to breathe some new life into that bird and never eat bland chicken again thanks to these fast, fresh, and delicious chicken breast recipes.
Leer más »