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Cindedigm Forges Digital Content Partnership With Genius Brands; Gives No Color On Takeover Rumors

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Cindedigm Forges Digital Content Partnership With Genius Brands; Gives No Color On Takeover Rumors
  • Cinedigm Corp (NASDAQ: CIDMannounced a digital content partnership with kids media company Genius Brands International Inc’s (NASDAQ: GNUS) “Genius Brands” for its family-friendly content streaming channel Kartoon Channel!
  • Cinedigm will offer some of the most popular global films and series under the agreement.
  • Cinedigm’s content offering will be available on every platform presently distributing Kartoon Channel!, including Apple Inc (NASDAQ: AAPL) and Android platforms, Amazon.Com Inc (NASDAQ: AMZN) Fire Stick, Roku Inc (NASDAQ: ROKU), Xumo, DISH Network Corp (NASDAQ: DISH), and Sling.
  • Besides, Cinedigm recently locked new deals with NBC Universal’s Peacock, Kanopy, Fubo, Plex, Redbox AVOD, Local Now AVOD, Fuse, and opened LATAM for PlutoTV and Tubi.
  • Cinedigm shares had spiked higher on Monday on a rumor labeling the company as an acquisition target at over $3 a share. Benzinga reached out to Cinedigm for comments, but the company spokesperson said, “unfortunately, it is a company policy not to comment on rumors.”
  • Price action: CIDM shares traded lower by 5.56% at $1.19 on the last check Tuesday.
 

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