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Chicken Soup for the Soul Entertainment buys digital media company

Chicken Soup for the Soul Entertainment Inc. acquired APlus.com, a digital media company co-founded and chaired by Ashton Kutcher, for $15 million in cash and stock.

Kutcher received shares for his portion of the company, increasing his stake in Chicken Soup for the Soul Entertainment, according to a Jan. 2 news release.

As part of the agreement, Chicken Soup for the Soul Entertainment acquired all the outstanding shares of common stock of A Plus from the holders thereof in consideration for about 350,000 shares of Chicken Soup for the Soul Entertainment stock and cash. The cash portion of the transaction was offset by the elimination of about $3.3 million in advances owed by A Plus to Chicken Soup for the Soul Entertainment, and all open amounts under the intercompany cash management system.

Any excess amount that may be due to Chicken Soup for the Soul Entertainment will be deferred and will be carried in the intercompany cash management system until amortized in accordance with prior practice.

A Plus was co-founded in 2014 by Kutcher and majority ownership was acquired by Chicken Soup for the Soul LLC, a parent company of Chicken Soup for the Soul Entertainment in 2016.

Chicken Soup for the Soul Entertainment produces, distributes and licenses video content-television programming, online video content and motion pictures.