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DHXMF: Finra deleted symbol. Reclassification of the Company's share capital becoming effective whereby each Share has been converted into either one Common Voting Share (for Shares owned and controlled by holders (Shareholders) who are Canadian within the meaning of a direction (the Direction?) made under the Broadcasting Act (Canada) (the Broadcasting Act) or one Variable Voting Share (for Shares owned or controlled by holders who are not Canadian within the meaning of the Direction).Each issued and outstanding Common Voting Share shall be converted into one Variable Voting Share, automatically and without any further act of the Company or the holder, if such Common Voting Share is or becomes owned or controlled by a person who is not a Canadian within the meaning of the Direction. Each issued and outstanding Variable Voting Share shall be automatically converted into one Common Voting Share, without any further intervention on the part of the Company or the holder, if: (i) the Variable Voting Share is or becomes owned and controlled by a Canadian; or (ii) the provisions contained in or promulgated under the Broadcasting Act relating to foreign ownership restrictions are repealed and not replaced with other similar provisions in applicable legislation.
Their library is/was worth $3 billion to replace before they took Family Channel. The company has now gone from being a media license company with libraries to a full blown broadcaster. DYODD
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