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Cinedigm and Shout! Factory have struck a deal for the former to make a minority investment in the latter. Together, they also plan to relaunch Shout!’s existing AVOD over-the-top digital channel, which is focused on classic television and movies. As part of the relaunch, Shout! will become a so-called freemium service, combining free and premium elements.
The strategic partnership also includes the extension of Cinedigm’s existing home entertainment distribution contract covering Shout!’s library of content, including classic and contemporary television series, new horror and family films, animation and classic films.
The announcement was made Thursday by Cinedigm chairman and CEO Chris McGurk, Cinedigm Entertainment Group president Bill Sondheim and Shout! Factory’s founders CEO Richard Foos, COO Bob Emmer and president Garson Foos.
“Shout! Factory has been our longtime partner and we are thrilled to make an investment in this innovative and forward-looking multimedia entertainment company,” McGurk said. “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.”
John Rudolph and Allen D. Lenard served as financial advisors to Shout! Factory for the transaction.
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