Item 1.01 Termination of a Material Definative Agreement
The On October 21, 2009, 4Kids Entertainment, Inc. (the "Company") issued a press release reporting that on October 20, 2009, the Mirage Group, owners of the Teenage Mutant Ninja Turtles property, sold the iconic brand to Nickelodeon, part of MTV Networks, a division of Viacom Inc. In connection with the sale, the Company has received a payment of approximately $9.75 million in consideration of its agreement to terminate its right to serve as the merchandise licensing agent for the property prior to the scheduled expiration of the representation agreement between it and the Mirage Group in 2012. 4Kids may also receive up to an additional $1 million depending on the performance of the property through June 30, 2010. A copy of the press release is attached hereto as Exhibit 99.1. Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits.

(c) Exhibits Exhibit Description 99.1 Press release issued by 4Kids Entertainment, Inc. dated

October 21, 2009