BEVERLY HILLS, Calif., Oct. 17, 2022 (GLOBE NEWSWIRE) — Genius Brands International, Inc. (NASDAQ: GNUS), announced today that it has repurchased 419,336 common shares in a private transaction from a company owned by Harold and Jennifer Chizick, former executives of the company. This stock repurchase was made in connection with a comprehensive settlement agreement resolving certain work-related claims by Harold and Jennifer Chizick against the company and the company’s counterclaim against the Chizicks.

A Genius Brands spokesperson commented, “We believe that the repurchase of these outstanding shares is beneficial to our company and our shareholders as shares are withdrawn from the market. The significant premium to the market price of $1.99 per share also underscores our confidence in our rapidly growing business and the future. This was an amicable settlement and we are pleased with the outcome of this lawsuit.”

Harold Chizick commented, “Jennifer and I are delighted to have this chapter behind us and look forward to moving on positively and playfully.”

About Genius Brands International
Genius Brands International, Inc. (Nasdaq: GNUS) is a leading global children’s media company that develops, manufactures, markets and licenses entertainment and consumer products for media and retail. The company’s IP portfolio of family-friendly content includes the stan lee Brand, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Cartoon Channel!; Shaq’s Garage, starring Shaquille O’Neal, comes to Cartoon Channel!; Rainbow Ranger on the Cartoonon Channel! and Netflix; flame flame, starring Jennifer Garner, on Netflix and more. Genius Brands recently entered into an agreement to acquire Canada’s WOW! Unlimited Media (TSX-V: WOW), which encompasses 2,500 channels on the Channel Federator Network, has also made a strategic investment in Germany’s Your…