Why Genius Brands Stock Dropped Today
Shares of Genius Brands International (NASDAQ: GNUS) declined by 14.8% on Tuesday after the kids' entertainment company announced the programming lineup for its new digital network.
Genius Brands' free, ad-supported Kartoon Channel! went live on June 15, with "unprecedented distribution reach" and "an unprecedented initial content lineup," according to CEO Andy Heyward. "I am not aware of seeing another channel launch with such a volume of content, across such a broad range of platforms, penetrating virtually the entire United States TV Household universe," Heyward said in a press release.
The service's content lineup includes the animated shorts Baby Einstein, Llama Llama, and The Pig on the Hill, narrated by Pierce Brosnan. It also includes the popular Angry Birds series and the Minecraft-themed show Journey to the End.
Source Fool.com
