The company has seen a sharp uptick in revenue during February and March as major fourth-quarter theatrical titles like Black Panther: Wakanda Forever and Puss in Boots: The Last Wish entered the rental window. SEC rules require numbers to be released within 90 days of the close of the previous quarter, meaning the company will have to step into the spotlight sometime before next Friday, March 31.Īs the moves are being undertaken, revenue from transactional rentals at Redbox has finally started to flow in again after the long struggle with Covid coupled with studio efforts to favor their own subscription streaming outlets. CSSE will be one of the last companies to report results this earnings season, and has not yet specified when it will do so. The company declined to comment on its recent activities, citing the federally mandated quiet period ahead of its fourth-quarter earnings report. Major multi-picture pacts like one signed by Redbox in 2020 with John Wick producer Basil Iwanyk are not understood to be affected by the pullback, sources said. Whenever a new owner takes over - think, on a different budget level, Warner Bros Discovery - existing projects get rethought or sometimes even shelved, within the bounds of contractual obligation. Prior to going public in late-2021 via a merger with special-purpose acquisition company Seaport Global, Redbox had been significantly ramping up its original production output. The other major austerity measure has been renegotiating individual distribution deals for select Redbox titles inherited in the acquisition. In a recent town hall meeting, CEO Bill Rouhana delivered updates to staffers about the plans to defer executive bonuses from March until sometime in the second quarter. The company also just lined up a $50 million infusion from a share purchase agreement as it seeks to shore up its financial resources. ![]() ![]() ![]() In lieu of staff reductions, though, executive bonuses typically paid out in March have been deferred until the second quarter and select distribution deals for titles inherited in the Redbox deal have been renegotiated. Multiple sources familiar with management’s thinking indicated to Deadline that layoffs are not in the forecast for the company, which runs a number of ad-supported streaming businesses along with Redbox. Disney Fielding Interest In ABC And Other Linear TV Assets From Byron Allen And Nexstar Media Giant Calls Reports Of Sale Talks "Unfounded," But Will Consider "Strategic Options" - Update
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