No, Cartoon Network does not have any say over the ReBoot toys. At least, not that I know of.
What happened was that CN was originally going to put ReBoot on Toonami. The toy stores, hearing that, told Irwin that they wanted lots of ReBoot toys. but when it turned out that it was not going to be put on daily. the toy stores said they didn;t want 'em after all. Without significant pre-orders, Irwin couldn't make the toys, and thuseverything after the first wave was deep-sixed.
(This is a paraphrase of am alt.tv.reboot post by Gavin Blair, as opposed to runors.)
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