DHX Media has inked a definitive deal to sell its Halifax animation studio as part of the company’s ongoing strategic shift to focus and streamline its production operations.
The sale does not include This Hour Has 22 Minutes, which continues to be owned by DHX Media and produced in Halifax, where the company is headquartered. The transaction is subject to approval. It is expected to close around December 31, 2018.
“The sale will generate operating efficiencies by consolidating animation production, and aligns with our objectives of rationalizing costs, simplifying our organization and focusing resources,” said Michael Donovan, the CEO and executive chairman of DHX Media.