Cynthia Littleton Business EditorAndy Heyward’s Genius Brands has acquired Canadian animation production house WOW! Unlimited Media in a deal valued at $53 million.WOW!
brings to Genius a busy content operation that has produced mostly children’s programming for such outlets as Netflix, Amazon Prime, Hulu and Peacock and studios such as Sony, Dreamworks, Moonbug and Mattel.
WOW! also is home to the Channel Frederator Network, a streaming platform for animation creators. That will pair nicely under the Genius umbrella with its existing Kartoon Channel service.WOW!
said it had earnings of $5.1 million during the 12-month period from July 2020 to June 2021 on revenue of $56.4 million. The deal is a mixture of cash and stock.
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