Genius Brands International, Inc. completed the acquisition of additional 25.385608% stake in Your Family Entertainment AG (DB:RTV) for 5.3 million.
February 13, 2022
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Genius Brands International, Inc. (NasdaqCM:GNUS) submitted a mandatory offer to acquire a 71.4% stake in Your Family Entertainment AG (DB:RTV) for 15 million on December 2, 2021. Under the Offer, Offeror will acquire 7.48951 million shares at a price of 2 per share in cash. In a related transaction, Genius Brands International, Inc. entered into an agreement to acquire a 28.6% stake in Your Family Entertainment AG from F&M Film und Medien Beteiligungs GMBH for 6 million on December 2, 2021. Additionally, Genius Brands plans to invest up to 7 million to further capitalize Your Family Entertainment AG and invest in growing the global digital and linear channel footprint, as well as launch key intellectual property. Your Family Entertainment AG subject to shareholder approval, will be renamed Genius Family Entertainment AG, and will operate its children's networks under the brand Kartoon Channel! Worldwide. Your Family Entertainment AG will be run by the current Management Board of Piëch and Bernd Wendeln. Piëch, who also sits on the Supervisory Board of Porsche Automobil Holding SE, and Siemens Austria AG, will further join Genius Brands' Board of Directors in the U.S. Concurrently, Paul Robinson , former Managing Director of Disney Television International and Senior Vice President Disney Channel Worldwide, will become Managing Director of Kartoon Channel! Worldwide and oversee the international buildout and growth of Kartoon Channel! Robinson and his team will be based in London. Lou Fazio , former Director of Walt Disney Television Acquisitions and Programming, will oversee the programming of the international channels, supporting Robinson on the development and rollout of the Kartoon Channel! content, as he does in the U.S. The global rollout of consumer products based on the channel content, will be supervised by Kerry Phelan , Genius Brands' General Manager & Executive Vice President, Global Franchise Management, who previously ran consumer products licensing worldwide for Lucasfilm, Pixar, and DreamWorks. Also, upon closing, Bernd Wendeln will continue to serve as Chief Operating Officer of Your Family Entertainment AG and drive the expansion of Your Family Entertainment AG/Genius Family Entertainment out of Munich. Your Family Entertainment AG will maintain its independent listing on the Frankfurt Stock Exchange. The offer document for the mandatory offer will be published on the Internet after approval by the Federal Financial Supervisory Authority.
Genius Brands International, Inc. (NasdaqCM:GNUS) completed the acquisition of additional 25.385608% stake in Your Family Entertainment AG (DB:RTV) for 5.3 million on February 14, 2022.
Kartoon Studios, Inc., formerly Genius Brands International, Inc., is a global media company developing, producing, marketing and licensing branded animated entertainment properties and consumer products for media and retail distribution. Its IP portfolio of family-friendly content features the Stan Lee brand, Stan Lee's Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel!; Shaq's Garage, starring Shaquille O'Neal, coming to Kartoon Channel!; Rainbow Rangers on Kartoon Channel! and Netflix; Llama Llama, starring Jennifer Garner, on Netflix and more. Its Toon Media Networks is a distributed entertainment platform, which consists of Kartoon Channel!, Frederator Network and Ameba. Kartoon Channel! is a distributed entertainment platform. Frederator Network owns and operates the animation network on YouTube, with channels having over 2000 creators and influencers. Ameba is a children's video streaming service that has active, engaging and intelligent programming.
Genius Brands International, Inc. completed the acquisition of additional 25.385608% stake in Your Family Entertainment AG (DB: RTV) for €5.3 million.