HALIFAX, June 7, 2019
/CNW/ - DHX Media (or the "Company") (TSX: DHX, NASDAQ: DHXM)
has closed the previously announced sale of a building on Bartley
Drive, Toronto, for gross proceeds of C$12.0 million. Net proceeds from the sale will
be used to pay down debt. The sale is part of the Company's ongoing
strategic shift to focus and streamline its operations and reduce
leverage.
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 use of net proceeds from
the sale 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 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.