FilmRise and Shout! Studios are combining to form Radial Entertainment, a new global content distribution platform that will house one of the largest independent catalogs in the industry of 70,000 movies and TV episodes.
The move comes as FilmRise is being acquired by funds managed by Oaktree Capital Management. Financial terms of the deal were not disclosed.
“Oaktree is excited to bring together two incredible Film & TV content
distribution companies in FilmRise and Shout!,” Oaktree Special Situations managing director Jared Frandle said in a statement. “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.”
Frandle said the firm would continue to seek opportunities to invest and grow its film and TV catalog and is committed to working with Radial’s management team to drive “significant organic and M&A-driven growth,” including content partnerships and the expansion of digital streaming channels.
Oaktree, which has $203 billion in assets under management and over 1,200 employees and offices across 25 cities worldwide, has been an active partner in Shout! Studios since its investment in 2023.
Shout! Studios CEO and co-founder Garson Foos and FilmRise CEO and co-founder Danny Fisher will become Radial Entertainment’s CEO and executive chairman, respectively.
“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,” Foos said. “This is a highly additive merger between two very complementary organizations, 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 organization and are thrilled to collaborate with the FilmRise team in taking the combined business to the next level.”
“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,” Fisher added. “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.”
Salem Partners acted as the exclusive financial and investment banking advisor to Oaktree and Shout! Studios. Guggenheim Securities acted as the exclusive financial and investment banking advisor to FilmRise. Greenberg Traurig acted as exclusive legal advisors to Shout! Studios. Manatt, Phelps & Phillips acted as exclusive legal advisors to FilmRise.
