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In 2006, it paid $65 million for an emerging service called Grouper. Despite rising valuations for AVOD services (Tubi and Pluto, for example, have been sold for mid-nine-figure sums), it appears that Sony did not see a comparable return on a business it entered more than a decade ago. Sony had been widely expected to exercise its option. For the next 30 days, Chicken Soup has the right to pay cash in lieu of some or all of the preferred stock and the company said it has already determined that it will give Sony some amount of preferred stock. The transaction gives Sony the right to obtain $40 million of preferred CSSE stock in exchange for its stake. Shares in CSSE gained more than 5% on double their normal trading volume to close at an all-time high of $19. HBO Max Price Will Head Due "North" When It Combines With Discovery+ Next Spring, Warner Discovery Streaming Czar JB Perrette Says Ad Load On Cheaper Tier Could Also Double