Entertainment

Radial Entertainment is seeing layoffs following the merger of Shout Studios and FilmRise



The newly formed Radial Entertainment Group saw layoffs following the merger of Shout Studios and FilmRise as part of what the company called a “company-wide integration effort to identify redundancies, streamline operations, and reposition Radial for long-term growth.”

“Any associated workforce reduction is the result of a comprehensive assessment of our current business today, as we prepare to support our strategic roadmap moving forward. We are extremely grateful for the dedication and contributions of our departing colleagues and wish them every success for the future,” the company said.

Radial came together last summer when Los Angeles-based Oaktree Capital Management pursued its acquisition of Shout! Studios with a deal for FilmRise, a leading independent distributor of digital broadcast content. Shout previously acquired Gravitas Ventures. Garson Foss, CEO and Co-Founder of Shout! Studios is CEO of Radial Entertainment with Danny Fisher, CEO and co-founder of FilmRise, as CEO.

“Moving forward, Radial remains focused on growth, and continues to elevate our company as an innovator and thought leader in the digital broadcast industry. We are committed to delivering unparalleled value to our partners, customers and audiences, as we continue to build our diverse and ever-expanding library of over 70,000 titles and episodes.”

The extent of the reductions could not be confirmed. We learned that the deadline was last week and had about 14% of employees in finance, marketing, operations, and e-commerce.

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