Company type | Subsidiary |
---|---|
Industry | Film distribution |
Founded | 2001 |
Defunct | July 11, 2024 |
Fate | Chapter 7 bankruptcy liquidation by parent company |
Headquarters | New York City, United States Toronto, Canada |
Parent | Chicken Soup for the Soul Entertainment |
Website | screenmediafilms |
Screen Media Ventures, LLC was an American-Canadian distribution company founded in 2001 and owned by Chicken Soup for the Soul Entertainment since 2017 alongside its subsidiary Popcornflix. [1] [2] [3] [4] [5] [6] In 2008, Screen Media selected The Creative Coalition as its exclusive nonprofit partner in launching the Spotlight Initiative. The partnership permits the pursuit of active outreach efforts for issues showcased in Screen Media produced and distributed motion pictures. While the Spotlight Initiative serves as a strategic business component that will create unique marketing, branding, and advertising opportunities as well as value for mass marketers, it also enhances America's cultural connection to the stories and social agendas of our times. [7]
On April 23, 2024, Chicken Soup for the Soul Entertainment announced a $636.6 million loss in 2023, and warned that without any options to generate additional financing, the company may be forced to liquidate or pause operations, and seek a potential Chapter 11 bankruptcy protection filing. [8] On June 29, 2024, the company filed for Chapter 11 bankruptcy protection after missing a week of paying its employees and failing to secure financing. [9] On July 11, the U.S. Bankruptcy Court approved a conversion of the bankruptcy to Chapter 7, which would signal a liquidation of the company's assets, and the cessation of its subsidiaries, including Screen Media. [10]
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