- Chicken Soup for the Soul Entertainment (CSSE +2.7%) announced it has acquired APlus.com, the digital media company co-founded and chaired by Ashton Kutcher for $15M in cash and stock.
- A Plus is a social and mobile-first platform that specializes in positive journalism and delivers video stories that bring people together.
- CSS Entertainment acquired all the outstanding shares of common stock of A Plus, in consideration for ~350k shares of CSS Entertainment stock and cash. The cash portion of the transaction was offset by the elimination of ~$3.3M (NYSE:MMM) in advances owed by A Plus to CSS Entertainment.
- “By eliminating video view distribution costs, this acquisition is expected to result in $5M of cost savings in 2019 and will enhance our ability to increase the commitments we make to advertisers and increase our number of original series,” said William J. Rouhana, Jr., Chairman and CEO.
- Now read: CRH (LON:CRH) Medical acquires Indiana-based Anesthesia Care Associates
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