Oaktree Capital Management has acquired FilmRise, the US digital streaming content distributor, and merged it with existing portfolio company Shout! Studios, an independent film and television distributors. The combined company, Radial Entertainment, will serve as a global content distribution platform boasting a library of around 70,000 movies and TV episodes.

Garson Foos, CEO and Co-founder of Shout! Studios, will become CEO of Radial Entertainment and Danny Fisher, CEO and Co-founder of FilmRise, will be Executive Chairman.

Jared Frandle, Managing Director for Oaktree’s Special Situations strategy, commented: “Oaktree is excited to bring together two incredible Film & TV content distribution companies in FilmRise and Shout!. We believe combining these companies under the Radial umbrella creates a world-class Film & TV media business. It’s an extraordinary combination that we believe brings the unique scale needed to compete and win in the rapidly evolving landscape of digital entertainment and streaming media. Based on our extensive work in the space, we continue to seek opportunities to invest and grow our catalog of Film & TV titles. To that end, Oaktree is committed to working with Radial’s best-in-class management team to drive significant organic and M&A-driven growth going forward as we build Radial into a premium brand name in the media & entertainment space.”

Foos (pictured) said: “We have long admired the FilmRise business and its executives, and have held a steadfast belief that a strategic transaction between FilmRise and Shout! would create an entertainment business of exciting scale. This is a highly additive merger between two very complementary organisations, and we have strong conviction in the incremental value that Radial will bring to our partners and dedicated consumer fan base. We will ensure that the spirit and soul of Shout! will flourish in this new organisation and are thrilled to collaborate with the FilmRise team in taking the combined business to the next level.”

Fisher added: “I believe that by bringing together FilmRise, a leader in ad-supported digital distribution, with Shout! Studios, renowned for their enduring legacy and successful adaptability in an ever-evolving industry, Radial is destined to become a media powerhouse. With an incredible leadership team and steadfast support from Oaktree Capital Management, we have exciting new opportunities to leverage our extensive content libraries and combined operational resources to drive future growth.”

Since its original investment in Shout! Studios in 2023, Oaktree has been an active partner in supporting Shout!’s strategic vision to grow its content portfolio by acquiring entertainment companies and major content libraries. Oaktree stated that it remains committed to supporting the combined business’s content investment strategy across M&A, content partnerships, and expansion of digital streaming channels.

Financial terms were not disclosed.

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Categories: Articles, Business, M&A

Tags: FilmRise, oaktree, radial, Shout! Factory