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4Kids Gets Fox Kids

posted on 2002-01-19 13:11 EST
4Kids to Pay 25.3 Million per season to Fox

According to a 4Kids Entertainment Press release, they have won the bidding for control of Fox Kids Saturday morning programming. Starting with the fall 2002 season, 4Kids will pay Fox $25.3 million per season for the programming block which airs from 8am to 12pm ET/PT on Saturday.

Fox first announced in November the possibility that they were looking to lease their Fox Kids Saturday morning programming block to a content packager like 4Kids.

4Kids Entertainment own Anime title Pokémon, Yu-Gi-Oh!, Kinnikuman and Tama and Friends in addition to several other non-Anime titles. It is very likely that many, if not all, of these titles will end up airing on the Fox Kids block.

Full Press Release:

"4 Kids Entertainment Inc. (the "Registrant"), a New York corporation, is filing this Current Report on Form 8-K to report that it has entered into a multi-year agreement with Fox Broadcasting Company to lease the television network's Saturday morning programming block.

Beginning with the September 2002 broadcast year, 4Kids Entertainment will provide all programming content for Fox's Saturday morning broadcast block, which airs from 8am to 12pm ET/PT (7am to 11am CT). Under the terms of the agreement, 4Kids will also have the right to retain all revenue from the network advertising sales during the four-hour time period. The agreement has an initial term of four broadcast years, with 4Kids having the option to extend the term for up to two additional broadcast years. 4Kids will pay a license fee of approximately $25.3 million for each broadcast year during the initial term of the agreement. The agreement provides for 50% of the fee for the first broadcast season to be paid currently, with the balance of the fee for the first broadcast season to be paid in four equal installments in September, December, February and April of the broadcast year. Fees for each subsequent broadcast year are payable 50% in the June preceeding the beginning of the broadcast year with the balance of the fee for the broadcast year payable in four equal installments in September, December, February and April. The agreement further provides that, at 4Kids option, up to $10.3 million of each year's fee may be paid in 4Kids common stock."

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