The newly formed Radial Entertainment Group experienced layoffs following the merger of Shout Studios and FilmRise as part of what the company called a “company-wide integration effort to identify layoffs and streamline operations, repositioning Radial for long-term growth.”
“Any associated reduction in force is the result of a thorough evaluation of our current operations today, while preparing to support our strategic roadmap for the future. We are deeply grateful for the dedication and contributions of our departing colleagues and wish them every success in the future,” the company said.
Radial came together last summer when Los Angeles-based Oaktree Capital Management pursued its 2023 acquisition of Shout! Studios with a deal for FilmRise, a leading independent distributor of digital streaming content. Shout previously acquired Gravitas Ventures. Garson Foos, CEO and co-founder of Shout! Studios, is CEO of Radial Entertainment with Danny Fisher, CEO and co-founder of FilmRise, serving as executive chairman.
“Moving forward, Radial remains focused on growth, continuing to elevate our company as an innovator and thought leader in the digital streaming 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 more than 70,000 titles and episodes.
The extent of the reductions could not be confirmed. Deadline learns they were as of last week and made up about 14% of finance, marketing, operations and e-commerce staff.
