Redbox to Be Acquired in $375 Million Deal by Chicken Soup for the Soul Entertainment
Todd Spangler NY Digital EditorRedbox Entertainment, the struggling DVD kiosk and streaming video company, has set a deal to be acquired by Chicken Soup for the Soul Entertainment in an all-stock transaction.The company will operate more than 38,000 kiosks nationwide as well as digital media services spanning ad-supported and transactional video services. The deal is valued at $375 million, comprising about $50 million in stock and the new company’s assumption of $325 million in debt.The deal comes after Redbox in October 2021 became a publicly traded company after merging with a special purpose acquisition company (SPAC).