Global children media firm Genius Manufacturers Worldwide (NASDAQ: GNUS) introduced Monday former NBA star Shaquille O’Neal has agreed to govt produce and star in a brand new animated collection, and grow to be a shareholder within the firm.
Shaq’s Storage will not debut till 2022, however will probably be featured on Genius Manufacturers Kartoon Channel!, the advertiser-backed platform obtainable for each tv and cellular units that launched this past June. The dimensions of O’Neal’s funding in Genius Manufacturers was not disclosed.
Picture supply: Genius Manufacturers.
One other deal achieved
The animated collection will concentrate on the adventures of automobiles and vehicles that Genius Manufacturers CEO Andy Heyward says is impressed by Walt Disney‘s Toy Story, Marvel’s Tony Stark, and James Bond‘s 007 character.
The present is being created in partnership with Genuine Manufacturers Group, a worldwide model improvement, advertising and marketing, and leisure firm that acquired the rights to O’Neal’s enterprise offers in 2015. The basketball legend has since partnered with Papa John’s Pizza, 24-Hour Health, Auntie Anne’s pretzel outlets, and automobile washes, amongst others.
Contemplating the deal announcement solely refers to O’Neal turning into a “shareholder” with out indicating the dimensions of the funding, it suggests his place won’t be very important.
Shares of Genius Manufacturers are down 7% on the information. Though the broader market is falling sharply, too, the breathless press releases the media firm is understood for now not appear to have the identical means to pump up the inventory as they as soon as did. The shares, which briefly hit $11.73 in June, at present commerce beneath $1.50 a stub.
Even so, the inventory is up almost 2,700% from its 52-week lows, despite having lost greater than 85% of its worth from its excessive level.
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