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Renee PremiumMember
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DoughRay Free
11/28/13 3:53 PM
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DoughRay Free
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DHX Media Ltd.(fka DHXMF) RSS Feed

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DHX Media (T.DHX) jumps 27% on Disney programming acquisition announcement DHX Media (TSX:DHX, StockForum), Halifax-based producer and distributor of film and television programs for both domestic and international markets, announced today that the company has agreed to acquire Family Channel, Disney XD, and Disney Junior (French language) from Bell Media (TSX:BCE, StockForum). The transaction has yet to be approved by the Canadian Radio-television and Telecommunications Commission (CRTC) and the Competition Bureau. According to the press release, “DHX Media's acquisition of Family, Disney XD, and English- and French-language Disney Junior is a result of Bell Media's process of divesting some properties to comply with regulatory body conditions attached to the July 5, 2013 acquisition of Astral Media Inc. by Bell.” Kevin Crull, Bell Media president commented, “Bell Media welcomes DHX Media to the broadcasting industry with their acquisition of the incredible brands that are Family, Disney XD, and Disney Junior.” Crull summed up, “I have the utmost confidence that with DHX Media, these brands will continue to flourish and enrich our television industry.” DHX Media was in the news recently when the company closed a sale of 11 million common shares. Shares were up 26.86% on the news to $5.29 per share. Currently there are 114,198,443 shares outstanding with a market cap of $602.97 million. Read more at http://www.stockhouse.com/news/business-news/2013/11/28/dhx-media-(t-dhx)-jumps-27-on-disney-programming-a#9M0TcfEFB8egT6lb.99
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