Oaktree forms Radial Entertainment through merger of Shout! Studios and FilmRise

Oaktree Capital Management has merged independent film and television distributors Shout! Studios and FilmRise to form a new global entertainment company, Radial Entertainment.

The newly established company will operate under the Radial Entertainment brand and retain the Shout! Studios and FilmRise labels. The merged entity brings together a library of approximately 70,000 movie and television titles, which Oaktree describes as one of the largest independent catalogs in the industry.

Garson Foos, co-founder and CEO of Shout! Studios, has been appointed CEO of Radial Entertainment. Danny Fisher, co-founder and CEO of FilmRise, will serve as executive chairman.

FilmRise, which specializes in ad-supported streaming and monetization across various digital tiers, brings a portfolio focused on television and non-scripted content, including genres such as true crime, reality, classics, medical, food, and British programming. Shout! Studios contributes scripted content across categories including cult classics, animation, action, award-winning films, westerns, and horror.

Jared Frandle, managing director for Oaktree’s Special Situations strategy, stated that the merger creates a media business with the scale necessary to operate in a rapidly evolving digital landscape. He emphasized Oaktree’s ongoing commitment to content acquisition and strategic growth.

The merger continues Oaktree’s investment activity in the media sector, following its acquisition of Shout! Studios in 2023. Radial Entertainment is expected to pursue additional growth through mergers, partnerships, and expansion of its streaming platforms.

Salem Partners served as exclusive financial and investment banking advisor to Oaktree and Shout! Studios. Guggenheim Securities advised FilmRise. Legal representation was provided by Greenberg Traurig for Shout! Studios and Manatt, Phelps & Phillips for FilmRise.

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