Genius Brands Announces Appointment of Henry Sicignano III to the Board of Directors
Brings proven track record growing businesses and maximizing profitability
BEVERLY HILLS, Calif., May 26, 2023 (GLOBE NEWSWIRE) -- . (Nasdaq: GNUS), a global brand management company that creates and licenses multimedia entertainment content for children, today announced the appointment of Henry Sicignano III to the Company’s board of directors.
Mr. Sicignano currently serves as the President of Charlie’s Holdings, Inc., a publicly traded consumer goods company with sales extending to more than 90 countries. Prior to this role, he served as Chief Executive Officer of 22nd Century Group, Inc., a publicly listed plant biotechnology company. Additionally, Mr. Sicignano served as General Manager at NOCO Energy Corp, as well as Vice President at Kittinger Furniture Company, Inc. He also served on the board of directors of Anandia Laboratories, Inc., which was acquired in 2018. Mr. Sicignano holds a B.A. degree from Harvard College and an M.B.A. degree from Harvard University.
Andy Heyward, Chairman & CEO of Genius Brands commented, "I am pleased to welcome Henry to the board of directors. He brings decades of senior executive experience, including a successful track record leading public and private companies. We believe his operational and capital markets experience will be invaluable at the board level, given our laser focus on driving revenue and maximizing profitability. Moreover, we look forward to benefiting from his background in consumer products, as we increase our focus on merchandising our growing brand portfolio. Overall, Henry brings fresh and independent insight to the board, and I believe his appointment illustrates our commitment to the highest levels of corporate governance."
Mr. Sicignano commented, "I am thrilled to join Genius Brands’ board of directors at this exciting time in the Company’s development. The children’s entertainment market is highly fragmented and there is a significant opportunity for a new leader to rise in this industry, especially one that is not encumbered by legacy operations. Toward this end, Genius Brands has embraced the latest technologies and new means of distribution. While the Company has experienced rapid growth, I also believe there are significant opportunities to further enhance profitability and maximize value for shareholders. The outlook for Genius Brands is exciting and I am honored to join the Company on this journey.”
About Genius Brands International
Genius Brands International, Inc. (Nasdaq: GNUS) is a leading global children’s media company developing, producing, marketing and licensing branded children’s entertainment properties and consumer products for media and retail distribution. The Company’s IP portfolio of family-friendly content features the Stan Lee brand, Stan Lee’s Superhero Kindergarten, starring Arnold Schwarzenegger, on Kartoon Channel!; Shaq’s Garage, starring Shaquille O’Neal, coming to Pluto TV; Rainbow Rangers on Kartoon Channel! and Netflix; Llama Llama, starring Jennifer Garner, on Netflix and more. In 2022, Genius Brands acquired Canada’s WOW! Unlimited Media (TSX-V: WOW), which includes 2,500 channels under Frederator Networks, and has also made a strategic investment in Germany’s Your Family Entertainment AG (FRA:RTV), one of Europe’s largest distributors and broadcasters of high-quality programs for children and families.
Genius Networks consists of Kartoon Channel!, Frederator Network and Ameba. Kartoon Channel! is a globally distributed entertainment platform with penetration in a vast majority of the U.S. television market and international expansion with launches in key markets around the world. Kartoon Channel! is available across multiple platforms, including iOS, Android Mobile, Web, Amazon Prime Video, Apple TV, Amazon Fire, Roku, Pluto TV, Comcast, Cox, Dish, Sling TV, Android TV, Tubi, Xumo, Samsung and LG Smart TVs. Frederator Network owns and operates the largest global animation network on YouTube, with channels featuring over 2000 exclusive creators and influencers, garnering on average over a billion views every month. Ameba is a children's video streaming service full of active, engaging and intelligent programming.
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Forward Looking Statements: Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation, our ability to generate revenue or achieve profitability; our ability to obtain additional financing on acceptable terms, if at all; the potential issuance of a significant number of shares, which will dilute our equity holders; fluctuations in the results of our operations from period to period; general economic and financial conditions; our ability to anticipate changes in popular culture, media and movies, fashion and technology; competitive pressure from other distributors of content and within the retail market; our reliance on and relationships with third-party production and animation studios; our ability to market and advertise our products; our reliance on third-parties to promote our products; our ability to keep pace with technological advances; our ability to protect our intellectual property and those other risk factors set forth in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K and in the Company's subsequent filings with the Securities and Exchange Commission (the "SEC"). Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
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