DHX MEDIA ACQUIRES BULLDOG INTERACTIVE
Halifax, NS – 24 March 2008 – DHX Media Ltd. (AIM & TSX ticker: “DHX”), a leading independent international producer and distributor of television programming and interactive content is pleased to announce that it has acquired all of the outstanding shares in Bulldog Interactive Fitness Inc. (“Bulldog Interactive”), a privately-owned developer of children’s entertainment centres featuring fitness equipment which incorporates interactive gaming systems such as Nintendo’s Wii stations and Sony’s DDR dance machines.
Based in Dartmouth, Nova Scotia, Bulldog Interactive has franchised eight locations across Canada to date, including several in the Toronto area. Within the last two months, three Bulldog Interactive locations have commenced operations, in Guelph, ON, Saskatoon, SK and St. John’s, NF and another three are expected to open within the next two months in Richmond, BC, Calgary, AB and Boca Raton, FL. Bulldog Interactive locations provide supervised and guided play for children between three and 14, with customized exercise programs and group events in an environment that fosters good health, self-esteem, confidence, friendship and fun.
DHX Media will benefit from access to a fast growing network of kids’ entertainment centres catering to the same target audience as do DHX Media’s core entertainment content properties. This overlapping target audience is expected to provide for cross promotion opportunities for DHX Media’s existing and future content properties. This acquisition provides another opportunity for DHX Media to build on its strategy of exploiting its content across new and emerging platforms.
The closing was satisfied by a cash payment of CAD $625,000 and 99,333 shares in DHX Media Ltd. which are subject to a one year lock-up. Further potential consideration payable by DHX Media is subject to Bulldog Interactive meeting certain financial performance benchmarks. Application will be made to AIM and it is expected that the 99,333 common shares will be admitted to trading on 28 March 2008.
About Bulldog Interactive Fitness Inc.
Bulldog Interactive is North America’s first fitness franchise designed exclusively for kids. Using video games and other forms of interactive technology, such as Nintendo Wii stations and Sony DDR dance machines, along with specialized fitness and nutrition programs, we help kids to gain confidence and self-esteem while having fun. Our mission is to successfully promote and provide safe and entertaining interactive fitness solutions for youth, no matter what their fitness level. For more information, please visit www.bulldoginteractivefitness.com.
About DHX Media
DHX Media Ltd. is a leading international producer and distributor of television programming and interactive content with an emphasis on children, family and youth markets. DHX Media Ltd. shares trade on AIM and are listed on the TSX, the Toronto Stock Exchange. DHX Media’s production companies, Decode Entertainment, Halifax Film and Studio B Productions, are the producers or co-producers of 17 original television series and theatrical releases currently commissioned for production and maintain a growing library of over 2,200 half-hours of mostly children and youth-oriented television productions. For more information, please visit www.DHXMEDIA.com
For more information, please contact:
DHX Media – Canada +1 902-423-0260
David A. Regan – EVP, Corporate Development & IR
AIM Nominated Advisors: +44 (0) 20 7383 5100
Grant Thornton Corporate Finance
This press release contains forward looking statements with respect to the Company. Although the Company believes that the expectations reflected in such forward looking statements are reasonable, such statements involve risks and uncertainties and are based on information currently available to the Company. Actual results may differ materially from those expressed or implied by such forward looking statements. Factors that could cause actual results or events to differ materially from current expectations, among other things, include risks related to market factors, customer contract interpretation, application of accounting policies and principles, and production related risks, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time including matters discussed under “Risk Factors” in the Company’s short form prospectus dated November 7, 2007 and in the Company’s Amended Annual Information Form incorporated by reference therein. These forward-looking statements are made as of the date hereof, and the Company assumes no obligation to update or revise them to reflect new events or circumstances.