HALIFAX, March 24 /CNW/ - 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.
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.
Disclaimer
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.
