Chicken Soup For The Soul Entertainment To Acquire Film And Television Assets Of Sonar Entertainment

(RTTNews) - Chicken Soup for the Soul Entertainment Inc. (CSSE) said that it agreed to acquire the film and television assets of Sonar Entertainment Inc.

Sonar is an independent television studio headquartered in Los Angeles with operations in Toronto and London.

In the first year after closing, Chicken Soup for the Soul Entertainment expects to recognize over $15 million in revenue with contribution of approximately $10 million in EBITDA from the Sonar assets.

The company anticipates significant expansion of revenue and EBITDA from Sonar's valuable television content development pipeline beginning in 2022.

The acquisition is expected to close in 30 days.