The signature studio of faith-based entertainment, home of Sound of Freedom, His Only Son, Cabrini, and Dry Bar Comedy stand-up series, announced it is merging with Southport Acquisition Corporation in a Special Purpose Acquisition Company (SPAC) deal worth $1.6 billion.

The unique nature of a SPAC is because of the merging company, Southport Acquisition Corporate (OTC: “PORT“). Because the primary merger is public already, Angel Studios will be permitted to trade its Class A common stock on the New York Stock Exchange or NASDAQ exchange under the ticker symbol “AGSD” because Southport is a public company and a controlling factor of the merger.

In one year, Angel Studios’ revenue rose to $45 million, compared with $39 million a year earlier this past June.

Angel Studios’ Profit Soaring on a Wing and a Prayer

Angel Studios’ most substantial profiting content comes from one of the top 10 most-grossing movies of 2023, “Sound of Freedom.” Directed by Alejandro Monteverde, the film is a grim depiction of a haunting true story. The film’s synopsis says it is the “incredible true story of a former government agent turned vigilante who embarks on a dangerous mission to rescue hundreds of children from traffickers.”

Sound of Freedom stars Jim Caviezel (Jesus in “The Passion of the Christ”) and Mira Sorvino (Academy Award for Best Supporting Actress in “Mighty Aphrodite”). It earned over $184 million at the domestic box office–a mark that was only $3 million less than “John Wick 4.”

Co-founded as VidAngel by CEO Neal Harmon in 2013, this was a faith-based competitor against Netflix’s original model of mail-in DVDs. Today, Angel Studios is arguably the catalyst to Hollywood’s attention to content unabashed with its commitment to a Christ-centered message. Formed in a pivot from its previous business as a video filtering service, Angel Studios has leveraged a unique model to fund and distribute movie and TV content, finding early success with the child trafficking film “Sound of Freedom,” which earned a spot as one of the top grossing films last year.

Aside from entertainment, Angel Studios generates revenue from licensing its films and television shows to streaming platforms such as Amazon Prime, Apple TV+, and Netflix, along with theatrical distribution of its movies. Following the successful Sound of Freedom, Angel Studios has a couple of projects later this year:

• Bonhoeffer — The true story about a Polish Lutheran pastor in Germany. His courage and outspoken nature about Christianity’s role in the world (namely, in Nazi Germany) led to his notable book, “The Cost of Discipleship.” His death, while tragic, was inspirational to millions. He was only 39 years old.
• Homestead — A fictional, post-apocalyptic film involving a family’s plight for survival during the external–and internal–turmoil of life around them.
• David — An animated, musical feature film scheduled for an international 2025 release featuring a novel take on the boy who would be king.

The entire transaction is expected to be finalized by the SEC before summer 2025. Although share prices of Angel Studios/AGSD stock is unknown at this time, the merger should provide faith-based audiences an opportunity to make a nice investment.