DHX MEDIA ANNOUNCES ACQUISITION EARN-OUT AND ANALYST CALL

Halifax, NS – 14 May 2009 – DHX Media Ltd (AIM & TSX ticker: “DHX”) (“the Company” or “DHX”), a leading independent international producer and distributor of mainly children’s television programming and interactive content, announces the payment of $500,000 in cash, and the issuance today of 1,500,000 common shares of the Company, which are subject to a lock-in agreement, in equal parts to each of Blair Peters and Chris Bartleman pursuant to the earn-out associated with the acquisition of Studio B Productions Inc. (“Studio B”) which was previously announced on December 4, 2007. These shares will be subject to a lock-in agreement under which the shares will be released in equal one-third tranches over three years beginning on May 13, 2010. Following this announcement, these shares represent 3.4% of the outstanding share capital of DHX of which Blair Peters and Chris Bartleman, officers of DHX Media’s Studio B subsidiary, each now hold 1.7%.

Michael Donovan, CEO and Chairman at DHX, commented, “We are delighted at Studio B’s success since joining DHX in late 2007. Under Blair Peters and Chris Bartleman’s leadership, Studio B has succeeded in obtaining commissions for new children’s series with both domestic and international broadcasters. Most notably, we have been excited by the international interest in Martha Speaks which airs on PBS in the U.S. and Kid vs. Kat which started to air on Disney XD in the U.S. in February. Studio B’s production slate continues to grow with several new series under development.”

Following the issuance of all of the shares referred to above, the total outstanding issued common share capital of DHX is 44,358,743 common shares.

Application for the admission to trading on AIM of the 1,500,000 common shares will be made shortly and it is expected that such admission will be effective on or around May 22, 2009.

DHX also announces that it will hold a conference call for analysts to discuss its financial results on Tuesday, May 19th at 11:00 am ET (4:00 pm GMT). Media and others may access this call on a listen-in basis.

Conference call details are as follows:

DHX Media analyst conference call:

Date: Tuesday, May 19 2009

Time: 11:00 am ET (4:00 pm GMT)

By telephone: 800-731-5774 or (416) 644-3424 for the Toronto area. Please allow 10 minutes to be connected to the conference call.

Replay: Instant replay will be available beginning approximately one hour after the call at 877-289-8525 toll free or 416-640-1917, and passcode 21306044# (pound key), until midnight ET Tuesday, May 26, 2009.

For more information, please contact:

DHX Media Ltd. +1 902-423-0260
David A. Regan – EVP Corporate Development & IR

AIM Nominated Advisors:
Grant Thornton UK LLP +44 (0) 20 7383 5100
Gerry Beaney
Troy MacDonald

About DHX Media Ltd.
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. is listed on AIM and on the Toronto Stock Exchange. DHX Media’s production companies, Decode Entertainment and Halifax Film, are the producers or co-producers of 11 original television series or theatrical releases currently commissioned for production and maintain a growing library of over 1,700 half-hours of mostly children and youth-oriented television productions. www.dhxmedia.com

Disclaimer
Certain statements herein may constitute forward-looking statements, including those identified by the expressions ‘‘may’’, ‘‘will’’, ‘‘should’’, ‘‘could’’, ‘‘anticipate’’, ‘‘believe’’, ‘‘plan’’, ‘‘estimate’’, ‘‘potential’’, ‘‘expect’’, ‘‘intend’’ and similar expressions to the extent they relate to the Company or its Management. These statements reflect the Company’s current expectations and are based on information currently available to Management. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results or events to differ materially from current expectations, including the matters discussed under ‘‘Risk Factors’’ contained in the Company’s prospectus dated May 12, 2006. 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.

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