DHX Media acquires Bulldog Interactive Franchise
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
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.
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.