News
4Kids Entertainment Reportedly Puts Itself Up for Sale (Updated)
posted on by Egan Loo
The paidContent.org website for digital media news is reporting that the franchise from Denmark.
4Kids laid off 15% of its workforce in December.
Barry Stagg, senior vice president of corporate communications for 4Kids, told ANN, "It is our policy not to comment on rumors or speculation."
Source: paidContent.org via Wall Street Pit
Update: 4Kids' last profitable year was the fiscal year ending on January 2, 2006. With 12 times their average trading volume, 4Kids' stocks (KDE) rose 9 cents to $1.95 after paidContent.org posted its report at 12:50 p.m. ET. The stocks were up as high as $2.30 before settling down, and the company now has a market capitalization of US$25.79 million at the end of the day.
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