Film Roman Stock Hit by Fox Cancellation
Film Roman Inc. shares tumbled 39% after the Fox network decided to drop one of the television producer’s shows from its program lineup for the fall season.
The stock plunged $2.25 to close at $3.50 in Nasdaq trading.
Fox, owned by News Corp., dropped “C-Bear and Jamal,” an animated children’s program, from its Saturday morning schedule. The show, which will continue to air for the remainder of the current season, ranks No. 1 in its 8 a.m. Eastern time slot. The fall season begins in September.
A spokeswoman for Fox Kids Network said the network hasn’t ruled out bringing the show back.
Hollywood-based Film Roman is also involved with “The Simpsons,” “Garfield & Friends” and “Bobby’s World.”
The company, whose shares have lost about 69% of their value since first being sold to the public in October, had revenue of $34.3 million in 1995.
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