HALIFAX, April 2, 2019
/CNW/ - DHX Media (or the "Company") (TSX: DHX, NASDAQ: DHXM),
a global children's content and brands company, has entered into an
Agreement of Purchase and Sale to sell a building it owns on
Bartley Drive, Toronto. The sale
is part of the Company's ongoing strategic shift to focus and
streamline its operations. Under the terms of the agreement, DHX
Media has agreed to sell the facility for total consideration of
$12.0 million. The transaction is
expected to close on or about June 6,
2019 and is subject to customary closing conditions.
Proceeds from the transaction will be used to pay down debt.
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 completion of the
disposition, expected use of proceeds from the disposition and the
business strategies and operational activities of the Company.
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 ability of the Company to complete the
disposition 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.