DHX signs deal to buy Degrassi franchise producer for $33 million

Children’s entertainment company DHX Media said Thursday it has acquired the Epitome group of companies, producer of the hit Degrassi TV franchise, for $33 million in stock and cash. In addition to the shows in the Degrassi franchise, the deal includes episodes of the L.A. Complex, Instant Star, Riverdale and Liberty Street. The deal will […]

Children’s entertainment company DHX Media said Thursday it has acquired the Epitome group of companies, producer of the hit Degrassi TV franchise, for $33 million in stock and cash.

In addition to the shows in the Degrassi franchise, the deal includes episodes of the L.A. Complex, Instant Star, Riverdale and Liberty Street.

The deal will see Stephen Stohn remain the president of Epitome. Stohn and Linda Schuyler will stay on as executive producers of all current productions.

The sale also includes Epitome Studios Inc., which owns a studio in Toronto.

“The Degrassi franchise has become a perennial favourite with teens around the world since its inception in 1980,” said Michael Donovan, CEO of DHX Media.

“With Degrassi’s enduring international appeal and suitability for digital broadcast, this iconic Canadian show represents a highly complementary addition to our library and is a compelling and logical expansion for DHX Media from kids into the global teen market.”

Under the agreement, DHX will pay $19.5 million in cash and 2.9 million DHX shares, which will be subject to a six month lock-up agreement.

DHX said it expects the deal to add to net earnings per share for its 2015 financial year.

Media Articles

Laas Turnbull joins ZoomerMedia

Media veteran named co-publisher of Zoomer, takes on content and IT teams

iPhones top list of preferred second screen devices

New Seevibes statistics shows Android losing ground to home comupters

Why sports apps are winning with fans

Usage is exploding as sports apps keep consumers deeply engaged

Mediative adds Dine.to and two auto sites to network

New sites boost network's reach with auto and foodie audiences

WestJet launches new in-flight entertainment system

WestJet Connect will offer advertising 'down the road' says spokesperson

Bell Media adds nine YouTube creators to its MCN roster

Much Digital Studios has earned 10 million+ video views since May launch

Clear Channel launches digital column network

Six-foot tall columns will display advertising in sync at busy commuter hub

Torstar buys majority interest in digital media company

Move comes as company posts a $1.1 million second quarter loss

Pan Am Games a TV and social media hit: IPG Mediabrands

More than 60% of the population watched at least part of the coverage