The logo for DHX Media Ltd. (TSX: DHX) is shown. THE CANADIAN PRESS/HO
November 28, 2013 - 7:02 AM
HALIFAX - Shares of Halifax-based DHX Media Ltd. (TSX:DHX) shot up about 30 per cent in early trading following news that it has a deal to acquire Family and other children's TV channels from Bell Media.
The proposed $170-million cash deal, if approved, will add to DHX's holdings of youth-oriented entertainment, including rights to numerous well-known animated television series.
DHX stock gained $1.23 to trade at $5.40 shortly after markets opened.
Family has about 5.7 million subscribers and an estimated 29.6 per cent share of the English-language market for viewers aged two years to 17 years.
Under the deal, DHX will also acquire French and English language versions of Disney Junior and Disney XD.
DHX owns and markets well-known children's programs such as Inspector Gadget, Johnny Test, Teletubbies and Yo Gabba Gabba!
Shares of Bell Media's parent company, BCE Inc. (TSX:BCE), edged up 12 cents to $46.79.
The proposed deal between the two companies requires regulatory approvals and is expected to close in 2014.
News from © The Canadian Press, 2013