Genius Brands International has agreed to buy Canadian animation production house Wow! Unlimited Media for approximately U.S. $53 million in cash and stock.Beverly Hill-based Genius and Vancouver-based Wow are publicly traded on, respectively, the Nasdaq and Toronto exchanges and shares of both were trending higher Wednesday morning.Genius Brands CEO Andy Heyward said the merger will substantially accelerate financial growth and expansion in the global children’s entertainment market.
The deal provides it access to various Canadian federal and provincial tax credits, which will allow Genius Brands to transfer its current animation production from China at great savings, he said.Wow productions includes Adventure Time, FairlyOdd Parents,
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