HALIFAX — Executives of DHX Media told its annual shareholders meeting in Halifax that they expect a strategic review of its options to be complete by June 30, at the end of its fiscal fourth-quarter and 2018 financial year.
Executive chairman Michael Donovan said DHX is evaluating multiple promising opportunities that he hopes will have a positive effect on the company’s share price.
He made the comment in response to a complaint about the DHX share price, which was described as “floundering.”
DHX Media shares opened at $4.01 at the Toronto Stock Exchange as the meeting was being held, about 26 per cent lower than it was a year ago and 45 per cent below its 52-week high in September.
Donovan and David Regan, the company’s executive vice-president for strategy and corporate development, said they were confident that the company’s financial performance will be improved by initiatives taken over the past year.
The biggest of these was the acquisition of rights to the Peanuts cartoon franchise, in a US$345-million deal that DHX management believes will create multiple opportunities to add to the company’s kid-oriented revenue streams.
Companies in this story: (TSX:DHX.B)
The Canadian Press