Many Additional Collaborations Expected Between Screen Media and Newly-Launched Strong Studios
Crackle Plus Networks to Have First Rights to Premiere ‘Safehaven’ and ‘Flagrant’
COS COB, Conn., March 07, 2022 (GLOBE NEWSWIRE) -- Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) (“the Company”), one of the largest operators of streaming advertising-supported video-on-demand (“AVOD”) networks, today announced Screen Media’s distribution agreement for the distribution rights to original feature films and television series developed by newly-launched Strong Studios from Ballantyne Strong, Inc (NYSE American: BTN). Safehaven and Flagrant are the first series in this agreement and both have been greenlit for production in 2022.
Screen Media will distribute Safehaven and Flagrant worldwide with the Crackle Plus streaming services Crackle, Popcornflix, and Chicken Soup for the Soul having first rights to premiere.
Safehaven is a supernatural horror series based on the graphic novel about a female comic book artist whose drawings come alive to haunt her. Safehaven is produced by James Seale (Throttle), Kevin Duncan (Juncture) and Michael Bay’s 451 Media. Production is anticipated to begin in Canada mid-2022.
Flagrant is an original dramedy series in partnership with actor and comedian, Michael Rapaport (Atypical, White Famous, Public Morals, Justified). Rapaport will appear in and executive produce Flagrant. Screenwriter Peter Hoare (Standing Up, Falling Down, Down Under Cover), and actor, broadcaster, stand-up comedian, and writer Pete Correale (The Pete and Sebastian Show on SiriusXM and Kevin Can Wait) will serve as co-writers and showrunners. Production is anticipated to begin mid-2022.
As part of the relationship, select IP previously owned by Landmark Studio Group will now be developed and produced by Strong Studios, shepherded by former Landmark Studio Group chief executive officer, David Ozer. Titles to be developed and produced by Strong Studios and distributed by Screen Media include Shadows in the Vineyard, starring Judith Light and Noah Wyle, the drama series Heartbeat, co-created by legendary DJ couple Kiss and M.O.S., and horror series MidNightMares, and more.
“We congratulate Strong Studios on this new venture and are excited to be able to continue to work with David Ozer and distribute this pipeline of exciting programming,” said William J. Rouhana Jr., chairman and chief executive officer of Chicken Soup for the Soul Entertainment. “We expect our relationship with Strong Studios to become even stronger over time.”
ABOUT CHICKEN SOUP FOR THE SOUL ENTERTAINMENT, INC
Chicken Soup for the Soul Entertainment, Inc. (Nasdaq: CSSE) (the “Company”) 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, Chicken Soup for the Soul, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Españolflix and FrightPix. The Company also acquires and distributes video content through its Screen Media subsidiary and produces original video content through the Chicken Soup for the Soul Television Group. 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.
ABOUT BALLANTYNE STRONG, INC
Ballantyne Strong, Inc. is a diversified holding company with operations and holdings across a broad range of industries. Ballantyne’s Strong Entertainment segment currently includes one of the largest premium screen suppliers in the United States and also provides technical support services and other related products and services to the cinema exhibition industry, theme parks and other entertainment-related markets. Ballantyne holds a $13 million preferred stake along with Google Ventures in privately held Firefly Systems, Inc., which is rolling out a digital mobile advertising network on rideshare and taxi fleets. Finally, Ballantyne holds a 9% ownership position in GreenFirst Forest Products Inc. (TSX: GFP), a forest-first business focused on sustainable forest management and lumber production, and an 18% ownership position in FG Financial Group, Inc. (Nasdaq: FGF), a reinsurance and investment management holding company focused on opportunistic collateralized and loss capped reinsurance, while allocating capital to SPAC and SPAC sponsor-related businesses.
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. Such assumptions involve a number of known and unknown risks and uncertainties, including but not limited to our core strategy, operating income and margin, seasonality, liquidity, including cash flows from operations, available funds, and access to financing sources, free cash flows, revenues, net income, profitability, stock price volatility, future regulatory changes, price changes, the ability of the Company’s content offerings to achieve market acceptance, the Company’s success in retaining or recruiting officers, key employees, or directors, the ability to protect intellectual property, the ability to complete strategic acquisitions, the ability to manage growth and integrate acquired operations, the ability to pay dividends, regulatory or operational risks, and general market conditions impacting demand for the Company’s services. For a more complete description of these and other risks and uncertainties, please refer the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 31, 2021, and for further information regarding our recent acquisition of the Sonar library and related assets, please see our Current Reports on Form 8-K, as amended, filed with the SEC on May 27, 2021 and July 1, 2021. 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.