VANCOUVER – After reporting its fourth quarter 2020 results, TV and movie maker Wow! Unlimited said it is exploring its strategic options, which companies often say when they are for sale.
The company finished its fourth full year of operations with operating EBITDA of $2.1 million for the year ended December 31, 2020, as compared to $1.4 million at the end of 2019. Revenue for the fiscal year was $61.1 million.
At the end of 2020, the company’s production backlog was $84.2 million, “the highest in the company’s history, reads its press release. “The company’s backlog at December 31, 2020, did not include additional contracts signed subsequent to year-end which represented $11.3 million in additional animation work to be completed over the next 24 months.”
Total employees and crew strength has gone up from approximately 410 employees at the beginning of the year to over 550 today.
Titles the company has completed include Madagascar: A Little Wild, produced for DreamWorks Animation, which was released on Hulu and Peacock in May 2020; Octonauts and the Caves of Sac Actun, produced for Silvergate, which was released on Netflix in August 2020; and Barbie Princess Adventure, produced for Mattel, released on Netflix in September 2020.
After releasing its year-end results, the company announced it has “commenced a process to explore and evaluate potential strategic alternatives focused on maximizing shareholder value. These alternatives could include, among other things, an acquisition, a merger or other business combination, a financing, a sale of assets, a sale of the company, or other strategic transactions that may be available to the company.”
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