-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 DPIqaNpCkkNFgt3GvA3vOpJC509bF7bWkxED4fimbY4cw7k7SeJdW+5ep8obyt4x
 HhxMb3ICsh+6fbll5ubWGQ==

<SEC-DOCUMENT>0001209191-09-016949.txt : 20090317
<SEC-HEADER>0001209191-09-016949.hdr.sgml : 20090317
<ACCEPTANCE-DATETIME>20090317175307
ACCESSION NUMBER:		0001209191-09-016949
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20090316
FILED AS OF DATE:		20090317
DATE AS OF CHANGE:		20090317

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PRESCOTT GROUP CAPITAL MANAGEMENT LLC
		CENTRAL INDEX KEY:			0001166152
		STATE OF INCORPORATION:			OK
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16117
		FILM NUMBER:		09689154

	BUSINESS ADDRESS:	
		STREET 1:		1924 S UTICA SUITEF 1120
		CITY:			TULSA
		STATE:			OK
		ZIP:			74104
		BUSINESS PHONE:		9187473412

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FROHLICH PHIL
		CENTRAL INDEX KEY:			0001127429
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16117
		FILM NUMBER:		09689153

	MAIL ADDRESS:	
		STREET 1:		1924 SOUTH IRICA SUITE 1120
		CITY:			TULSA
		STATE:			OK
		ZIP:			741046529

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			4 KIDS ENTERTAINMENT INC
		CENTRAL INDEX KEY:			0000058592
		STANDARD INDUSTRIAL CLASSIFICATION:	PATENT OWNERS & LESSORS [6794]
		IRS NUMBER:				132691380
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1414 AVE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2127587666

	MAIL ADDRESS:	
		STREET 1:		1414 AVENUE OF THE AMERICAS
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEISURE CONCEPTS INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMERICAN LEISURE INDUSTRIES INC
		DATE OF NAME CHANGE:	19740822
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>c82791_4x0.xml
<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2009-03-16</periodOfReport>

    <issuer>
        <issuerCik>0000058592</issuerCik>
        <issuerName>4 KIDS ENTERTAINMENT INC</issuerName>
        <issuerTradingSymbol>KDE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001166152</rptOwnerCik>
            <rptOwnerName>PRESCOTT GROUP CAPITAL MANAGEMENT LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1924 SOUTH UTICA, SUITE 1120</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>TULSA</rptOwnerCity>
            <rptOwnerState>OK</rptOwnerState>
            <rptOwnerZipCode>74104</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001127429</rptOwnerCik>
            <rptOwnerName>FROHLICH PHIL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1924 SOUTH UTICA, SUITE 1120</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>TULSA</rptOwnerCity>
            <rptOwnerState>OK</rptOwnerState>
            <rptOwnerZipCode>74104</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-03-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>353421</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.03</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2400109</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2009-03-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>14100</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.01</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2414209</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">The filing of this Form 4 shall not be construed as an admission that Prescott Group Capital Management, L.L.C. (&quot;Prescott Capital&quot;) or Phil Frohlich, the manager of Prescott Capital, is or was, for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise, the beneficial owner of any of the shares of Common Stock, par value $.01, of 4Kids Entertainment, Inc. (the &quot;Common Stock&quot;) purchased by Prescott Group Aggressive Small Cap Master Fund, G.P. (the &quot;Master Fund&quot;) for the accounts of Prescott Group Aggressive Small Cap, L.P. or Prescott Group Aggressive Small Cap II, L.P. (together, the &quot;Small Cap Funds&quot;).  Pursuant to Rule 16a-1, both Prescott Capital and Phil Frohlich disclaim such beneficial ownership.</footnote>
        <footnote id="F2">Prescott Capital holds indirectly 2,414,209 shares of Common Stock of 4Kids Entertainment, Inc. through the account of the Master Fund, of which Prescott Capital is the Investment Manager.  The Master Fund holds the shares of Common Stock for the accounts of the Small Cap Funds, of which Prescott Capital is the Investment Manager.  Prescott Capital receives a portion of the profits in the way of a capital allocation from, and owns a partnership interest in, the Small Cap Funds.  Phil Frohlich reports the Common Stock held indirectly by  Prescott Capital because, as the manager of Prescott Capital at the time of purchase, he controlled the disposition and voting of the securities.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Phil Frohlich, manager of Prescott Group Capital Management, L.L.C.</signatureName>
        <signatureDate>2009-03-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Phil Frohlich</signatureName>
        <signatureDate>2009-03-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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