Angel, 2521 Entertainment acquires “David” IP, sets holiday movie release

Exclusive: Newly public Angel Studios has partnered with 2521 Entertainment to acquire 100% of David Animated film and television franchise from Slingshot USA.

The partners are committing $78 million to the intellectual property with Angel’s share of the investment being about $31 million in cash, its first big move since merging with a SPAC to go public on the New York Stock Exchange.

The partners have scheduled a December 19 theatrical release for the animated musical David – The biblical shepherd boy who defeats Goliath and inspires his nation. zero moriginally in that slot, has been moved to the year 2026.

The deal, which settles some outstanding lawsuits between Angel and Slingshot, also comes with an accompanying five-part animated television series, Young Davidwhich was very popular with the Angel Guild. Angel has an unusual business model that relies in part on dues from the Angel Guild’s 1.5 million members, who have a role in selecting the studio’s projects.

Angel will explore producing additional episodes of the series David TV series to extend the franchise.

Angel co-founder and CEO Neil Harmon hinted at more deals to come. “Owning David’s intellectual property is a long-term strategic asset, and we expect to make similar acquisitions that resonate with Angel Guild and have performed exceptionally well on our platform,” he said.

Its mission is to “go beyond entertainment and deliver family stories that uplift and leave a lasting impression in a distracted world,” said David Hunt, co-founder and creative director of 2521 Entertainment.

Angel and 2521 Entertainment have collaborated on 14 projects so far including King of kings, The saga of the feather wing, The last rodeoa box office smash Voice of freedom And the next Young Washington.

Last month, alternative asset manager Trinity Capital announced its commitment of $100 million in growth capital to Angel Studios.