Chicken Soup for the Soul is forming a strategic review committee to evaluate its next steps amidst cost-saving measures and prioritizing cash flow. The company saw a net loss of $43.7 million and shares were down 18 percent. CEO William J. Rouhana, Jr. mentioned the slower rebound of studios, concerns about production slowdowns, and the Redbox kiosk performance. The company has conducted a review of operations to increase cash flow, including cutting down on future content commitments. The total employee headcount has decreased by 50 percent, and the company adjusted its guidance for full-year revenue. Keywords: Chicken Soup for the Soul, strategic review committee, cost-savings measures.
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Chicken Soup for the Soul, Redbox and Crackle Owner, Open to Deals – The Hollywood Reporter
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