Kartoon Studios Board Member Resigns

BEVERLY HILLS, CA – Kartoon Studios, Inc. (NYSE American:TOON), a player in the motion picture and video tape production industry with a market capitalization of approximately $25.6 million, announced the resignation of Dr. Stefan Piëch from its Board of Directors, effective March 5, 2025. The resignation was disclosed in a regulatory filing with the Securities and Exchange Commission (SEC) on Tuesday.

Dr. Piëch, who has served on the Board of Kartoon Studios, cited personal reasons for his departure. The company stated that his resignation was not due to any disagreements with the company’s operations, policies, or practices.

Kartoon Studios, formerly known as Genius Brands International (NYSE:TOON), Inc., is headquartered in Beverly Hills, California, and operates under the organization name 07 Trade & Services. The company is incorporated in Nevada and ended its fiscal year on December 31.

The announcement comes amid a period of no reported turmoil or strategic shifts within the company that are publicly known. The departure of a board member is a significant event for any public company, as board members play a crucial role in governance and strategic direction.

The company’s filing did not indicate any immediate plans for a replacement or changes to the Board’s composition following Dr. Piëch’s resignation. As per standard practice, Kartoon Studios will likely seek to fill the vacancy in due course.

Investors and stakeholders of Kartoon Studios will be watching closely to see how this change might affect the company’s direction or if it signals any upcoming shifts in strategy. The company’s shares are traded on the NYSE American exchange under the ticker symbol TOON.

This update is based on information provided by Kartoon Studios, Inc. through an SEC filing and does not include speculative insights or additional commentary.

In other recent news, Kartoon Studios has announced a major expansion deal with Samsung (KS:005930) TV Plus, a prominent Free Ad-Supported Streaming Television platform. This partnership makes the Kartoon Channel! available to millions of households in the United States and Canada, offering a variety of family-friendly programming, including content centered around popular video games. The channel features shows like Kidaverse: Roblox Rumble and animations based on well-known franchises such as Super Mario Bros. and Angry Birds. CEO Andy Heyward highlighted the channel’s top ranking on the Apple (NASDAQ:AAPL) app store and expressed optimism about the partnership’s potential to boost growth and profitability.

Additionally, Kartoon Studios has amended a key securities purchase agreement with an investor, as reported in a recent filing with the U.S. Securities and Exchange Commission. The amendment, effective January 15, 2025, extends deadlines related to stockholder meetings and restricts the issuance of common stock and engagement in Variable Rate Transactions until May 31, 2025. These changes are significant for investors, as they outline the company’s strategic commitments and timelines. The amendment follows the company’s recent name change from Genius Brands International, Inc. to Kartoon Studios, Inc., marking ongoing developments in its financial and corporate governance strategies.

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