Genius Brands stock jumps after Sonic The Hedgehog, PAC-MAN series acquisitions

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Shares of Genius Brands International Inc. jumped 13% in premarket trading Wednesday, after the kids media company said its Kartoon Channel! has acquired “Adventures of Sonic The Hedgehog” and “PAC-MAN and The Ghostly Adventures” animated series from 41 Entertainment. Financial terms of the deal were not disclosed. “Our mission in creating Kartoon Channel! has always been to deliver the best of the best in children’s entertainment, and we are excited to add these two series, featuring popular characters that are proven winners and that kids love,” said Kartoon Channel! General Manager Caroline Tyre. Genius Brands’s stock has rocketed 303.4% year to date through Tuesday, while the S&P 500 has gained 9.2%.
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