BEVERLY HILLS, Calif., June 26, 2023 (GLOBE NEWSWIRE) -- Kartoon Studios, (NYSE American: TOON) today announced that the Company has officially changed its name from Genius Brands International to Kartoon Studios and, effective at the opening of trading this morning, has transferred its listing from the Nasdaq Capital Market (“Nasdaq”) to the NYSE American exchange (“NYSE American”). The Company’s common stock will trade under the new trading symbol, “TOON,” and a new CUSIP number, 37229T 509.
‘STAN LEE,’ via animation, will ring the opening bell of the NYSE American today at 9:30 AM ET, reflecting Kartoon Studios’ emphasis on STAN LEE-created IP going forward, through its controlling interest in Stan Lee Universe, LLC. Anyone that would like to join in on the celebration can livestream the NYSE bell-ringing and view a cartoon compilation sizzle reel on the Company’s new website: www.kartoonstudios.com.”
Andy Heyward, Chairman & CEO of Kartoon Studios, commented, “The decision to change the Company’s name to Kartoon Studios is aimed at capturing our primary mission: crafting high-end, ethically conscious animated series for children, marketing them globally, and licensing consumer products featuring our unique characters. In conjunction with the name change, we have transferred our stock listing to the NYSE American exchange. We view this as a strategic move that aligns Kartoon Studios with our vision to be the premier source of children's entertainment, as the NYSE is home to major industry titans such as Disney, SONY, Roblox, AMC and more. As we head into our next phase of growth, the timing of these events could not be more perfect for both the Company and our investors. To commemorate this significant milestone, I invite investors to join the iconic ‘Stan Lee’, our management team, and board members as we ring the NYSE opening bell this morning.”
About Kartoon Studios
Kartoon Studios (NYSE AMERICAN: TOON) is a global end-to-end creator, producer, distributor, marketer, and licensor of entertainment brands. The Company’s IP portfolio includes original animated content, including the Stan Lee brand, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel!; Shaq’s Garage, starring Shaquille O’Neal, on Pluto TV; Rainbow Rangers on Kartoon Channel! and Netflix; the Netflix Original, Llama Llama, starring Jennifer Garner, and more.
In 2022, Kartoon Studios acquired Canada’s WOW! Unlimited Media and made a strategic investment becoming the largest shareholder in Germany’s Your Family Entertainment AG (FRA:RTV), one of Europe’s leading distributors and broadcasters of high-quality programs for children and families.
Toon Media Group, the company’s wholly-owned digital distribution network, consists of Kartoon Channel!, Kartoon Channel! Worldwide, Frederator Network, and Ameba. Kartoon Channel! is a globally distributed entertainment platform with full penetration of the U.S. television market and international expansion underway with launches in key markets around the world. Kartoon Channel! and Ameba are available across multiple platforms, including iOS, Android Mobile, Web, Amazon Prime Video, Apple TV, Amazon Fire, Roku, Pluto TV, Comcast, Cox, Dish, Sling TV, Android TV, Tubi, Xumo, Samsung and LG Smart TVs. Frederator Network owns and operates the largest global animation network on YouTube, with channels featuring over 2000 exclusive creators and influencers, garnering on average over a billion views every month.
For additional information, please visit www.KartoonStudios.com.
Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation, our ability to generate revenue or achieve profitability; our ability to obtain additional financing on acceptable terms, if at all; the potential issuance of a significant number of shares, which will dilute our equity holders; fluctuations in the results of our operations from period to period; general economic and financial conditions; our ability to anticipate changes in popular culture, media and movies, fashion and technology; competitive pressure from other distributors of content and within the retail market; our reliance on and relationships with third-party production and animation studios; our ability to market and advertise our products; our reliance on third-parties to promote our products; our ability to keep pace with technological advances; our ability to protect our intellectual property and those other risk factors set forth in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and in the Company's subsequent filings with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
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