Chicken Soup for the Soul Entertainment completed the acquisition of film and television assets Sonar for $19.5m.

Chicken Soup for the Soul Entertainment, an operator of streaming advertising-supported video-on-demand networks, completed the acquisition of film and television assets from Sonar, an independent television studio, for $19.5m. “The Sonar Entertainment assets are a perfect fit with our objective of building the industry’s best AVOD offering. This acquisition will not only have immense strategic value, positioning us to launch AVOD networks with a critical mass of proven content that fits our desired audiences, but will also give us ownership of several franchise television series and add proven television executive talent. Finally, we believe the transaction will be extremely efficient for our shareholders, with a structure that provides for the net cost of the assets being fully recovered as we create value for the seller,” William J. Rouhana Jr, Chicken Soup for the Soul Entertainment CEO.