HALIFAX, Nov. 8 2018 /CNW/ - DHX Media (or the "Company")
(TSX: DHX, NASDAQ: DHXM), a global children's content and brands
company, has signed a definitive agreement to sell its Halifax animation studio. The sale is part of
the Company's ongoing strategic shift to focus and streamline its
production operations.
"The sale will generate operating efficiencies by consolidating
animation production, and aligns with our objectives of
rationalizing costs, simplifying our organization and focusing
resources," said Michael Donovan,
CEO and Executive Chairman, DHX Media.
DHX Media is headquartered in Halifax. The sale does not include This
Hour Has 22 Minutes, which continues to be owned by DHX Media
and produced in Halifax.
The sale is expected to close on or about December 31, 2018, and is subject to customary
closing conditions, applicable third party consents and the
execution of certain ancillary agreements.
About DHX Media
DHX Media Ltd. (TSX: DHX, NASDAQ:
DHXM) is a global children's content and brands company, recognized
for such high-profile properties as Peanuts, Teletubbies,
Strawberry Shortcake, Caillou, Inspector Gadget, and the
acclaimed Degrassi franchise. One of the world's foremost
producers of children's shows, DHX Media owns the world's largest
independent library of children's content, at 13,000 half-hours. It
licenses its content to broadcasters and streaming services
worldwide and generates royalties through its global consumer
products program. Through its subsidiary, WildBrain, DHX Media
operates one of the largest networks of children's channels on
YouTube. Headquartered in Canada,
DHX Media has offices worldwide. Visit us at
www.dhxmedia.com.
Disclaimer
This press release contains "forward-looking statements" under
applicable securities laws with respect to DHX Media including,
without limitation, statements regarding statements regarding the
business strategies and operational activities of DHX Media and its
subsidiaries, the completion of the prospective transactions and
expected benefits flowing therefrom. Although the Company believes
that the expectations reflected in such forward-looking statements
are reasonable, such statements involve risks and uncertainties and
are based on information currently available to the Company. Actual
results or events may differ materially from those expressed or
implied by such forward-looking statements. Factors that could
cause actual results or events to differ materially from current
expectations, among other things, include the satisfaction of other
conditions to closing the transactions, including applicable third
party consents and the mutual agreement to the ancillary commercial
agreements, the ability of the parties to execute on the
transactions, market factors, contract interpretation,
application of accounting policies and principles and other factors
discussed in materials filed with applicable securities regulatory
authorities from time to time including matters discussed under
"Risk Factors" in the Company's most recent Annual Information Form
and annual Management Discussion and Analysis, which also form part
of the Company's annual report on Form 40-F filed with the U.S.
Securities and Exchange Commission. These forward-looking
statements are made as of the date hereof, and the Company assumes
no obligation to update or revise them to reflect new events or
circumstances, except as required by law.
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SOURCE DHX Media Ltd.