Why?
Bloomberg: Sony Pictures Sells Stake in Crackle TV Unit to Chicken Soup for the Soul
(Bloomberg) -- Sony Pictures Television is selling its ad-supported video content network, Sony Crackle, to Chicken Soup for the Soul Entertainment Inc. in a joint-venture agreement.
Chicken Soup, an advertising-video-on-demand (AVOD) network operator, will own a majority stake in the new streaming video service to be branded Crackle Plus. Chief Executive Officer Bill Rouhana anticipates the venture "will more than double the revenue" for Chicken Soup "and probably do the same for Ebitda."
More: https://finance.yahoo.com/news/sony-pictures-sell-crackle-tv-202741093.html
Side comment: Chicken Soup definitely far outperformed the widely publicized Lyft IPO.
Submitted March 31, 2019 at 11:05AM by markyu007 https://ift.tt/2V8Cja0
