Benzinga | Apr 20, 2021 12:03PM EDT

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

* Cinedigm Corp (NASDAQ: CIDM) announced a digital content partnership with kids media company Genius Brands International Inc's (NASDAQ: 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 (NASDAQ: AAPL) and Android platforms, Amazon.Com Inc (NASDAQ: AMZN) Fire Stick, Roku Inc (NASDAQ: ROKU), Xumo, DISH Network Corp (NASDAQ: 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.