Oaktree Capital acquires FilmRise, merges it with Shout! Studios to form Radial Entertainment

Danny Fisher (left) and Garson Foos

US asset-management firm Oaktree Capital Management has acquired streaming and distribution outfit FilmRise and merged it with the Shout! Studios film and TV distributor it already owns to form a new entity called Radial Entertainment.

The combined company will be a content-distribution platform with a library of 70,000 movies and TV episodes, Oaktree said this afternoon. Oaktree originally invested in Shout! in 2023.

Garson Foos, CEO and co-founder of Shout! Studios, will become CEO of Radial Entertainment and Danny Fisher, CEO and co-founder of FilmRise, will be exec chairman.

FilmRise’s catalogue has a particular focus on true crime, reality, classics, medical, food and UK programming. Shout!’s library is predominantly scripted films across the cult-classic, animation, action, western and horror categories.

Jared Frandle, MD of Oaktree’s special situations strategy, said: “We believe combining these companies under the Radial umbrella creates a world-class film and TV media business.

“Based on our extensive work in the space, we continue to seek opportunities to invest and grow our catalogue of film and TV titles. To that end, Oaktree is committed to working with Radial’s best-in-class management team to drive significant organic and M&A-driven growth going forward as we build Radial into a premium brand name in the media and entertainment space.”

Foos added: “We have long admired the FilmRise business and its executives, and have held a steadfast belief that a strategic transaction between FilmRise and Shout! would create an entertainment business of exciting scale.”

Fisher said: “I believe that by bringing together FilmRise, a leader in ad-supported digital distribution, with Shout! Studios, renowned for their enduring legacy and successful adaptability in an ever-evolving industry, Radial is destined to become a media powerhouse. With an incredible leadership team and steadfast support from Oaktree Capital Management, we have exciting new opportunities to leverage our extensive content libraries and combined operational resources to drive future growth.”