November 8, 2018 10:19 am

DHX Media to sell Halifax animation studio, financial terms not disclosed

The corporate logo for DHX Media Ltd. (TSX: DHX) is shown.

THE CANADIAN PRESS/HO
A A

DHX Media Ltd. has signed a deal to sell its Halifax animation studio to IoM Media Ventures.

Financial terms of the deal were not disclosed.

READ MORE: Halifax-based DHX Media sells nearly half of Peanuts’ stake to cut debt load

DHX says the sale is part of its ongoing strategic shift to focus and streamline its production operations.

Story continues below

The children’s entertainment company noted 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 by the end of the year, subject to customary closing conditions.

READ MORE: Halifax company behind Teletubbies, Peanuts considers financial future after poor results

DHX completed a strategic review earlier this year that ended with a deal to boost distribution and sales of its Peanuts brand in China and elsewhere in Asia. The company also suspended its dividend, cut staff and streamlined operations.

© 2018 The Canadian Press

Report an error

Comments

Want to discuss? Please read our Commenting Policy first.