Search form

4Kids Ent. Announces Stock Buyback

4Kids Ent. Inc., a global provider of children's entertainment and merchandise licensing, today announced that its Board of Directors authorized the company to purchase, from time to time through Dec. 31, 2008, up to 1,000,000 shares of the company's common stock in the open market or through negotiated transactions.

Commenting on the announcement, 4Kids Chairman and CEO Alfred R. Kahn, said, "The Board of Directors believes that 4Kids' stock is undervalued and that it is an excellent investment for the company to buy back shares. Also, I have exercised 120,000 stock options, which were set to expire on Dec. 31, 2007. After selling a sufficient amount of stock to pay the exercise price and taxes on the 120,000 stock options, I will be adding the remaining 65,000 shares of 4Kids stock to my holdings."