FilmRise and Shout! Studios are joining together. They will create Radial Entertainment, a new place to share movies and TV shows. This new company will have one of the biggest collections in the world, with 70,000 movies and TV episodes.
This change happens because Oaktree Capital <strong>Managementstrong> is buying FilmRise. The money details of this deal are not known.
Jared Frandle from Oaktree said, “We are happy to bring together FilmRise and Shout! Studios. This will create a strong media business. Together, they can compete in the fast-changing world of <strong>streamingstrong>.”
Frandle also said that Oaktree wants to grow the film and TV <strong>collectionstrong>. They will work with Radial’s team to improve the business and find new content.
Garson Foos, the CEO of Shout! Studios, and Danny Fisher, the CEO of FilmRise, will lead Radial Entertainment. They believe this <strong>partnershipstrong> will help the new company grow and succeed.
Salem Partners, Guggenheim Securities, and Greenberg Traurig are helping with the deal.
Vocabulary List:
- <strong><strong>Collectionstrong>strong> /kəˈlɛkʃən/ (noun): A group of items or works that are gathered together.
- <strong><strong>Managementstrong>strong> /ˈmænɪdʒmənt/ (noun): The process of dealing with or controlling things or people.
- <strong><strong>Partnershipstrong>strong> /ˈpɑːrtnərʃɪp/ (noun): The state of being partners in a business or organization.
- <strong><strong>Streamingstrong>strong> /ˈstriːmɪŋ/ (noun): The continuous delivery of multimedia files via the internet.
- <strong>Strongstrong> /strɔŋ/ (adjective): Having physical strength or the power to produce effects.
- <strong>Contentstrong> /ˈkɒntɛnt/ (noun): The information or topics presented in a work or media.
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