Cinedigm and Shout! Factory have agreed to expand their strategic partnership with a minority investment by Cinedigm and the announcement of plans to jointly re-launch Shout’s existing over-the-top digital channel, Shout! Factory TV, focused on classic television and movies in a SVOD and freemium AVOD model.
Cinedigm chairman and CEO Chris McGurk, Cinedigm Entertainment group president Bill Sondheim, and Shout! Factory’s founders Richard Foos (CEO), Bob Emmer (COO) and Garson Foos (president) made the announcement jointly. As part of the strategic partnership, the companies will also extend Cinedigm’s existing home entertainment distribution contract covering Shout! Factory’s extensive library of content, including classic and contemporary television series, new horror and family films, animation and classic films.
“Shout! Factory has been our long-time partner and we are thrilled to make an investment in this innovative and forward looking multimedia entertainment company,” said McGurk. “This new relationship benefits all aspects of Cinedigm’s business and adds Shout! Factory’s classic pop culture-themed OTT channels to our digital network roster that now includes CONtv, Docurama and the upcoming Dove Channel.”
“Cinedigm is the perfect investor and strategic partner for Shout! Factory. This opportunity brings together two popular entertainment brands that complement each other in many ways,” said the Shout! Factory’s founders. “As we continue to build on the success that we’ve enjoyed, we want to acquire exciting and high potential new films and series with significant revenue streams that we along with Cinedigm can fully exploit. This is a dynamic opportunity for us to cultivate our OTT digital channels by utilizing Cinedigm’s expertise. This positions us well to further expand our physical and digital businesses.”
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