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Sony Trades Crackle Equity For Stock; Full Control Of Streamer Goes To Chicken Soup For The Soul Entertainment

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deadline.com

Completing one of the more surprising media deals of late, Chicken Soup for the Soul Entertainment has taken full control of Crackle Plus, with Sony exercising its option to trade a minority stake for preferred stock.In May 2019, Sony Pictures Television entered into an arrangement with Cos Cob, CT-based Chicken Soup, surrendering operational control of Crackle but retaining a minority stake.

A new entity, Crackle Plus, was formed to house a portfolio of ad-supported and subscription VOD networks, including Crackle, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Españolflix and FrightPix.

Crackle Plus has a library with 10,800 movies and 22,000 TV episodes.Shares in CSSE have spiked 8% on the news to an all-time high of $19.52 in early

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