SILVER SPRING, Md. & LAS VEGAS--(BUSINESS WIRE)--CuriosityStream Inc. (“CuriosityStream”), a global factual entertainment company, and Software Acquisition Group, Inc. (“Software Acquisition Group” and, the combined company, the “Company”), a special purpose acquisition company, or SPAC, today announced the successful closing of their business combination. The business combination, which was approved on October 12, 2020 by Software Acquisition Group stockholders, accelerates CuriosityStream’s growth plans as a leader in the factual media streaming market. Beginning on October 15, 2020, CuriosityStream common stock will trade on the NASDAQ exchange under the ticker symbol “CURI”.
The merger announcement was made today by John Hendricks, Chairman of CuriosityStream, and Jonathan Huberman, Chairman and CEO of Software Acquisition Group.
John Hendricks, founder of the Discovery Channel and former Chairman of Discovery Communications, will remain chairman of the board as well as the combined company’s largest shareholder. CuriosityStream will continue to operate under the current management team led by Clint Stinchcomb, President and CEO, a media executive with more than 25 years’ experience launching and building digital media franchises and monetizing content.
“We are excited to become the first publicly traded streaming media company focused on delivering factual content,” said John Hendricks, Founder and Chairman of CuriosityStream. “As a public company with new cash funding and access to the public capital markets, we are poised to dramatically accelerate our growth plans. Investors will have the unique opportunity to capitalize on a ‘pure-play’ streaming media service that is not burdened with legacy linear TV assets in cable and broadcasting. With our public debut, CuriosityStream will continue to offer compelling direct-to-consumer offers and innovative distribution models that provide curious viewers around the world with content that informs, enchants and inspires.”
“I’m proud to be a part of CuriosityStream’s transition to a public company,” said Jonathan Huberman, Chairman and CEO of Software Acquisition Group. “It’s a very exciting time to be in the streaming market and CuriosityStream is uniquely positioned to dominate the factual streaming segment. I look forward to supporting the company as a member of the board as they drive CuriosityStream adoption across the globe.”
“Today marks a new era for CuriosityStream,” said Clint Stinchcomb, President and CEO. “With John Hendricks as our chairman, a strong management team, a passionate, diverse workforce and this new access to the public capital markets, we are well positioned to drive innovation, accelerate our growth and to continue delivering compelling factual content to millions of subscribers worldwide.”
CuriosityStream Highlights
- CuriosityStream currently serves approximately 13 million paying subscribers in over 175 countries and territories. CuriosityStream’s menu offering spans a broad range of factual categories and includes natural history specials such as LIGHT ON EARTH hosted by the renowned David Attenborough, the science and technology series DREAM THE FUTURE narrated by Sigourney Weaver, the lifestyle series THE HISTORY OF HOME narrated by Nick Offerman, the BBC history series EMPIRE OF THE TSARS, the human origins series OUT OF THE CRADLE, the paleontology series AMAZING DINOWORLD, the medical series THE BODY, and the food series HAPPINESS IS ON THE PLATE. Current events content offered by CuriosityStream include BRIGHT NOW and BREAKTHROUGH. Human-interest sports series include 4TH AND FOREVER: MUCK CITY. See programming highlights here.
- CuriosityStream features more than 3,000 titles including over 900 exclusive originals and has embarked on an original production and content acquisition plan that it projects will achieve a streaming library of more than 11,000 premium factual titles within five years.
- CuriosityStream’s SVOD service is offered direct to consumers (DTC) for $2.99 per month or $19.99 per year. In addition to offering consumers the opportunity to subscribe to CuriosityStream directly or through partner distributors on an a la carte basis, CuriosityStream is also undergoing rapid distribution growth due to a “bundled” partnership plan through which distributors can provide CuriosityStream’s SVOD service and/or CuriosityStream’s customized linear channels to any significant customer segment through flexible pricing and packaging options. Some of CuriosityStream’s affiliate partners who have already implemented the new bundled distribution plan offering include Altice USA and Frndly TV in the United States, StarHub in Singapore, Totalplay in Mexico, Gazprom and Okko in Russia, Millicom in Latin America, Liberty Global’s Flow TV in the Caribbean, REV TV on Cable Bahamas, Multichoice's DStv in Africa, Sky New Zealand, MediaNet in Maldives, and Com Hem in Sweden.
- Including DTC subscriptions and bundled distribution, CuriosityStream has a scalable and recurring multi-channel revenue stack also bolstered by Fortune 500 CSR and association partnerships, traditional advertising sales and multi-platform brand partnerships, and content licensing to major networks, studios, and distributors.
- CuriosityStream is available worldwide for viewing on all leading mobile, tablet, computer, and TV platforms including smart TVs such as Sony, LG, Samsung, and Visio; streaming devices such as Roku, Amazon Fire TV, Xbox One, Chromecast, and Apple TV; and mobile platforms such as Android devices and Apple iPhones and iPads. CuriosityStream monthly subscriptions are also offered through distribution partners including Comcast Xfinity, Apple TV+, Amazon Prime Channels, Sling TV, YouTube TV, Cox, Dish, and T-Mobile.
Stifel is acting as exclusive financial advisor to CuriosityStream. B. Riley Securities is acting as exclusive financial advisor and private placement agent to Software Acquisition Group. Arnold & Porter is serving as legal advisor to CuriosityStream and Kirkland & Ellis LLP is serving as legal advisor to Software Acquisition Group.
About CuriosityStream
Launched by media visionary John Hendricks, CuriosityStream is a leading global independent factual media company. Our documentary series and features cover every topic from space exploration to adventure to the secret life of pets, empowering viewers of all ages to fuel their passions and explore new ones. With thousands of titles, many in Ultra HD 4K, including exclusive originals, CuriosityStream features stunning visuals and unrivaled storytelling to demystify science, nature, history, technology, society, and lifestyle. CuriosityStream programming is available worldwide to watch on TV, desktop, mobile and tablets. Find us on Roku, Apple TV Channels and Apple TV, Xbox One, Amazon Fire TV, Google Chromecast, iOS and Android, as well as Amazon Prime Video Channels, YouTube TV, Sling TV, DISH, Comcast Xfinity on Demand, Cox Communications, Altice USA, Suddenlink, T- Mobile, Frndly TV, Vidgo, Sony, LG, Samsung and VIZIO smart TVs, Liberty Global, Com Hem, MultiChoice, StarHub TV, Totalplay, Millicom, Okko, Gazprom and other global distribution partners and platforms. For more information, visit CuriosityStream.com.
About Software Acquisition Group, Inc. (NASDAQ: SAQN)
Software Acquisition Group is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company is led by industry veterans Chairman and Chief Executive Officer, Jonathan Huberman, and Vice President of Acquisitions, Mike Nikzad.
Forward-Looking Statements
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, the Company’s expectations or predictions of future financial or business performance or conditions. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates,” “predicts” or “intends” or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed in the Company’s (i) Form 10-K for the year ended December 31, 2019, under “Risk Factors” in Part I, Item 1A, (ii) Form 10-Q for the quarterly period ended June 30, 2020, under “Risk Factors” in Part II, Item 1A, (iii) Definitive Proxy Statement on Schedule 14A filed with the SEC on September 22, 2020, under “Risk Factors”, and (iv) other filings made with the SEC from time to time. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. Forward-looking statements are based on the current belief of the Company’s management, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. However, there can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and the Company is not under any obligation, and expressly disclaims any such obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
In addition to factors previously disclosed in the Company’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (i) the effect of the closing of the merger on CuriosityStream’s business relationships, operating results, and business generally; (ii) any failure to realize the benefits expected from the merger; (iii) risks that the completed merger disrupts the Company’s current plans and operations, disrupts management time and attention, and poses difficulties in the Company’s employee retention; (iv) the effects of pending and future legislation; (v) risks of the internet, online commerce and media industry; (vi) the highly competitive nature of the internet, online commerce and media industry and the Company’s ability to compete therein; (vii) litigation, complaints, and/or adverse publicity; and (viii) privacy and data protection laws, privacy or data breaches, or the loss of data. This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in the Company and is not intended to form the basis of any such investment decision. All subsequent written and oral forward-looking statements concerning the Company, the completed transaction or other matters and attributable to the Company or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.
This press release and additional information about CuriosityStream can be found at http://investors.curiositystream.com/
