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home / news releases / GNUS - Genius Brands closes acquisition of Wow Unlimited

GNUS - Genius Brands closes acquisition of Wow Unlimited

Genius Brands International Inc.
Genius Brands (NASDAQ:GNUS) has completed its acquisition of Canada's Wow Unlimited Media (OTCQX:WOWMF), a transformative deal aimed at speeding up its expansion in global children's entertainment. Genius sealed the deal through a Canadian plan of arrangement, for 10.4 million shares of Genius common stock, just over 691,000 exchangeable shares in the capital of Wow Exchange (a subsidiary for the purpose of the deal) and C$47.7 million in cash. That amounted to about $53 million in value. The deal allows Genius to save mightily in transferring animation production to Canada from China. That's due to a number of Canadian federal and provincial tax credits accessible through the acquisition. GNUS is 2.5% higher postmarket. Genius Brands announced its deal Oct. 27.

For further details see:

Genius Brands closes acquisition of Wow Unlimited
Stock Information
Company Name: Genius Brands International Inc.
Stock Symbol: GNUS
Market: NASDAQ
Website: gnusbrands.com
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