4Kids Entertainment Wins Bid to Program Fox Broadcasting Network's Saturday Morning Block.Business/Entertainment Editors NEW YORK--(BUSINESS WIRE)--Jan. 22, 2002 4Kids Entertainment, Inc. (NYSE NYSE See: New York Stock Exchange : KDE (K Desktop Environment) A GUI-based user interface primarily for Unix and Linux machines, but also available for Windows and Mac. The source code is freely distributed and is maintained by developers around the world. ) announced today that it has entered into a multi-year agreement with Fox Broadcasting to lease the television network's Saturday Saturday: see week; Sabbath. morning programming block. Beginning September 2002, 4Kids Entertainment will provide all programming content for Fox's Saturday morning broadcast block, which commences at 8am ET/PT (7am CT). Under the terms of the agreement, 4Kids will also have the right to retain all revenue from the network advertising sales during the time period. The Agreement has an initial four-year term and extension options. "This agreement is a major milestone for our company," said Al Kahn, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of 4Kids Entertainment. "Fox Broadcasting reaches over 90% of television homes in the U.S. Beginning this September, 4Kids Entertainment will program all Saturday morning children's television programming on the Fox network. The Fox Saturday morning block currently reaches millions of kids every week. This agreement insures the distribution of our programs for years to come," said Kahn. "The selection process was arduous ar·du·ous adj. 1. Demanding great effort or labor; difficult: "the arduous work of preparing a Dictionary of the English Language" Thomas Macaulay. 2. , with many fine companies expressing interest," said FOX Television Entertainment Group Chairman, Sandy Grushow. "However, 4Kids Entertainment's considerable talent for finding successful franchises in children's programming coupled with their proven track record in the key young boys demo demo - /de'moh/ 1. A demonstration of a product, often of an early version or prototype. A demo is a far more effective way of inducing bugs to manifest themselves than any number of test runs, especially when important people are watching. 2. demo version. 3. will make it possible for the Saturday morning block to maintain a competitive edge. In addition, this deal enables FOX to stay true to its guiding philosophy of providing a diverse slate of quality entertainment for children." The Company noted that with the Pokemon, Cubix and Yu-Gi-Oh! Television series' currently airing on the Kids!WB network each Saturday morning, and the additional hours of programming slated for Fox's Fall schedule, 4Kids is rapidly becoming one of the largest providers of kids television entertainment content. Mr. Kahn continued, "We look forward to bringing our unique strategy to Fox this fall." The Company noted that it's programming of Fox's Saturday morning block represents more than just a dedicated pipeline for its content to reach kids. "We have identified ourselves as a unique player in the children's entertainment industry," added Kahn. "4Kids can offer children's content owners a full-service capability that stretches from production to merchandising merchandising Element of marketing concerned especially with the sale of goods and services to customers. One aspect of merchandising is advertising, which aims to capture the interest of the segment of the population most likely to buy the product. to network television programming," he stated. About 4Kids Entertainment, Inc. Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. with international offices in London, 4Kids Entertainment is a global provider of children's entertainment and merchandise licensing. 4Kids, through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , provides domestic and international merchandise licensing and product development, television, film, music and home video production and distribution, media buying and planning and website development. For further information, please visit the company's Web site at http://www.4kidsent.com. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Due to the fact that the Company faces competition from toy companies, motion picture studios and other licensing companies, and the uncertainty of public response to the Company's properties, actual results or outcomes may differ materially from any such forward looking statements. |
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