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Chicken Soup for the Soul Entertainment Sued Over Redbox Acquisition by Consultant Who Claims He’s Owed Several Million Dollars
A consultant sued Chicken Soup for the Soul Entertainment, alleging he is owed several million dollars for work he did for the Redbox acquisition.
But later that year, Redbox proceeded with a plan to go public via a merger with a special purpose acquisition company (SPAC), which occurred in October 2021. The company hit a steep drop-off in business and reported mounting losses, leading Redbox to lay off 150 employees, about 10% of its workforce. In February 2022, Chicken Soup for the Soul Entertainment resumed negotiations to acquire Redbox “at a substantially lower price for essentially the same assets,” according to Knee’s lawsuit.
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