DHX Media to sell Halifax animation studio, financial terms not disclosed
DHX Media Ltd. has signed a deal to promote its Halifax animation studio to IoM Media Ventures.
Monetary phrases of the deal weren’t disclosed.
READ MORE: Halifax-based DHX Media sells almost half of Peanuts’ stake to chop debt load
DHX says the sale is a part of its ongoing strategic shift to focus and streamline its manufacturing operations.
The youngsters’s leisure firm famous the sale doesn’t embrace This Hour Has 22 Minutes, which continues to be owned by DHX Media and produced in Halifax.
The sale is anticipated to shut by the top of the yr, topic to customary closing circumstances.
READ MORE: Halifax firm behind Teletubbies, Peanuts considers monetary future after poor outcomes
DHX accomplished a strategic evaluate earlier this yr that ended with a deal to spice up distribution and gross sales of its Peanuts model in China and elsewhere in Asia. The corporate additionally suspended its dividend, lower workers and streamlined operations.
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