Cindedigm Forges Digital Content Partnership With Genius Brands; Gives No Color On Takeover Rumors

Cinedigm Corp CIDM announced a digital content partnership with kids media company Genius Brands International Inc’s GNUS “Genius Brands” for its family-friendly content streaming channel Kartoon Channel!
Cinedigm will offer some of the most popular global films and series under the agreement.
Cinedigm’s content offering will be available on every platform presently distributing Kartoon Channel!, including Apple Inc AAPL and Android platforms, Amazon.Com Inc AMZN Fire Stick, Roku Inc ROKU, Xumo, DISH Network Corp DISH, and Sling.
Besides, Cinedigm recently locked new deals with NBC Universal’s Peacock, Kanopy, Fubo, Plex, Redbox AVOD, Local Now AVOD, Fuse, and opened LATAM for PlutoTV and Tubi.
Cinedigm shares had spiked higher on Monday on a rumor labeling the company as an acquisition target at over $3 a share. Benzinga reached out to Cinedigm for comments, but the company spokesperson said, “unfortunately, it is a company policy not to comment on rumors.”
Price action: CIDM shares traded lower by 5.56% at $1.19 on the last check Tuesday.