The DVD rental kiosk company was supposed to pay $16.7 million in three installments. After missing the first payment, there’s a court order to pay the whole balance.
Redbox’s financial situation continues to spiral out of its control. On Thursday, a Los Angeles court entered a $16.7 million judgment against the company in favor of NBCUniversal, after Redbox failed to pay a scheduled installment of a settlement the parties reached earlier in May. The missed payment bodes ill for the DVD kiosk company, which now owes the remaining balance in full.
After the missed payment, Universal asked the court to enforce the settlement and enter a judgment against Redbox and Chicken Soup — a request that was granted Thursday morning by Los Angeles Superior Court Judge Holly J. Fujie. Chicken Soup for the Soul Entertainment took on $325 million in debt when it acquired the DVD kiosk company in August of 2022, and its financial situation has only gone downhill from there.
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