From a media release:
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.