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.
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.