Redbox new releases8/29/2023 ![]() ![]() ![]() ![]() Dear Santa – A young woman who comes from a life of privilege falls for the owner of a soup kitchen after discovering a Dear Santa letter written by his seven-year-old daughter.Starring Greyston Holt, Bea Santos, Deana Carter, Greg Vaughan, and Michelle Morgan. A chance meeting between the two have them both letting down their guard and opening their hearts to the possibility of romance. With no time to follow current celebrity gossip, Jeannette is unaware when a Country superstar retreats to his small town to escape the intrusive paparazzi. Country Christmas – Jeanette Williams is a busy single parent, trying to make the best life for her and her daughter.But when the tree farm is threatened with closure, Annie bids her life in New York goodbye and rushes home to save the place she has always called home. The Tree That Saved Christmas – Struggling writer Annie Logan (Lacey Chabert) is devastated to learn that she won't be able to go home to the family tree farm in time for Christmas due to the demands of her high-powered boss.However, he is unimpressed with her attitude towards Christmas. The Most Wonderful Time of The Year - A single mother falls for a stranger her father brings home for the holiday season.Available on the Redbox free streaming app, the Roku Channel, and LG FAST services, the Redbox Romance Channel offers holiday enthusiasts over 75 original romantic movies with stars that include Henry Winkler, Lacey Chabert, and Kelly LeBrock.Įach month, a new selection of films will stream, including: Redbox Romance Channel is available on the Redbox free streaming app, The Roku Channel, and LG TVsĬOS COB, Conn.Redbox, a Chicken Soup for the Soul Entertainment Company (NASDAQ: CSSE), today announced its Redbox Romance Free Ad-Supported Streaming Television (FAST) channel will begin streaming Christmas and holiday movies 24 hours a day starting this Saturday through New Year’s Day. Over the past year in particular, the resilience Redbox has demonstrated through the challenges associated with the COVID-19 pandemic reaffirms our confidence in the value and growth potential of the business.Starting Saturday, holiday enthusiasts can enjoy original romantic holiday movies anytime they want some good cheer through the end of 2023 completely free Stephen Smith, chairman and CEO of Seaport Global Acquisition, commented: “We’ve long admired Redbox’s team for the incredible reputation they’ve established in the industry, as well as the innovative, scalable business model they’ve built. Redbox said it converts on average over 80% of its adjusted EBITDA directly into free cash flow. Upon close of the combination, those existing shareholders will hold approximately 59% of the outstanding common stock.Īfter the deal closes, Redbox expects to have approximately $209 million in cash that will be used to pay down existing debt and fund digital expansion, content acquisition and marketing initiatives.Īccording to Redbox, it generated $114 million of adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in 2020. At that point, Redbox’s common stock is expected to trade on Nasdaq under the ticker symbol “RDBX.” The transaction is being funded by a combination of $145 million of cash held in the trust account of Seaport Global Acquisition and a private investment in public equity (PIPE) commitment of $50 million led by Ophir Asset Management.Īs part of the transaction, all existing shareholders will roll 100% of their equity in Redbox, including funds managed by affiliates of Apollo Global Management, which acquired Redbox through the acquisition of Outerwall in September 2016. The transaction, approved unanimously by the boards of both companies, is expected to close in the third quarter of 2021. Approximately 70% of those customers identify as “late adopters” of new technology, which Redbox said gives the company “a unique opportunity to convert customers to its digital platforms over time.” Redbox currently has more than 39 million loyalty members across the U.S., service customers through 40,000 kiosks across more than 150 retail partners with new home-video releases. The company targeting increasing the output of Redbox Entertainment originals to more than 36 new releases per year. It also called out its Redbox Entertainment division, which has released 16 exclusive titles to date has 26 more titles committed for future release. In addition, Redbox is building technology to offer subscription VOD services as a third-party retailer. Redbox said it will use the capital it raises from the transaction to pay down debt as well as invest in multiple business models, including film distribution, transactional video on demand (TVOD), premium video on demand (PVOD), ad-supported linear and on demand (AVOD). ![]()
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