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PYPB is trading up 200% this morning following this Pokemon news.
(COMTEX) B: PLAY-BY-PLAY AWARDED LICENSING RIGHTS FOR NINTENDO'S 'POKEMON'
SAN ANTONIO, Sep 2, 1999 /PRNewswire via COMTEX/ -- Play-By-Play Toys &
Novelties, Inc. (Nasdaq: PBYP) today announced that it has been awarded
licensing rights through Leisure Concepts, Inc., a 4KIDS Entertainment
Company (Nasdaq: KIDE), the exclusive agent of Nintendo of America
Inc., for Nintendo's Pokemon. Play-By-Play will be designing,
manufacturing and distributing plush toys and novelties including
beanbags, keychains and temporary tattoos based on the popular Nintendo
video game Pokemon for distribution within the United States amusement
market.
Raymond Braun, President and Chief Operating Officer of Play-By-Play,
commented, "Nintendo's Pokemon has become an overnight phenomenon and
we are thrilled to bring Pokemon products to fans in the domestic
amusement market. The popularity and appeal of Pokemon complements and
extends our existing licensed character offerings within the amusement
market, our most significant channel of distribution."
The popularity of Pokemon is based on the concept of collecting,
developing and trading over 150 different Pokemon. Since its
introduction to the United States in September 1998, Pokemon has become
an overnight booming phenomenon. Pokemon is a top selling Nintendo
video game property, a #1 rated kid's television show in U.S.
syndication, as well as a #1 show on the Warner Bros. Television
Network.
The Company expects to begin shipping Pokemon merchandise to the
amusement market in the early spring.
Play-By-Play Toys & Novelties, Inc. designs, develops, markets and
distributes a broad line of quality stuffed toys, novelties and its
Play-Faces line of sculpted toy pillows based on its licenses for
popular children's entertainment characters, professional sports team
logos and corporate trademarks. The Company also designs, develops and
distributes electronic toys and non-licensed stuffed toys, and markets
and distributes a broad line of non-licensed novelty items.
Play-By-Play has license agreements with major corporations engaged in
the children's entertainment character business, including Warner
Bros., The Walt Disney Company, Paws, and many others, for properties
such as Looney Tunes, Winnie the Pooh, Batman, Superman, Mickey Mouse
and Garfield.
Except for the historical information contained herein, the matters
discussed in this release are forward-looking statements that involve
risks and uncertainties that could cause actual results to differ
materially, including, without limitation, risks associated with the
Company's liquidity and capital resources, relationships with
licensors, competitive and economic factors, price changes by
competitors, ability to manage growth, ability to source products,
international trade relations, management of quarter to quarter
results, increase in costs of raw materials, timing of technological
advances by the Company and its competitors, lack of acceptance by
consumers of new products, and the other factors discussed in the "Risk
Factors" section of the Company's Form 10-K dated July 31, 1998.
Updated information will be periodically provided by the Company as
required by the Securities Exchange Act of 1934.
SOURCE Play-By-Play Toys & Novelties, Inc.
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com -0-
CONTACT: Joe M. Guerra, Chief Financial Officer of Play-By-Play Toys &
Novelties, Inc., 210-804-4726; Investor Relations - Donna
Stein, Cindy Reid,
or Jill Meleski, Media - Gregory Tiberend, all of Morgen-Walke
Associates,
Inc., 212-850-5600, for Play-By-Play Toys & Novelties, Inc.
(PBYP KIDE) |
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