HALIFAX — DHX Media Ltd. says it has signed an agency agreement for Peanuts in China and Asia with CAA Global Brand Management Group LLP, a division of Global Brands Group, as it completed its strategic review.
The children’s entertainment company has also suspended its quarterly dividend, a move it says will free up $10 million a year to invest in its WildBrain business and pay down debt.
Under the strategic review, DHX says it assessed a wide range of options to improve shareholder value.
The five-year agreement with CAA-GBG will see the firm work to increase Peanuts’ presence in Asia by extending the brand’s reach across multiple licensing categories.
DHX says China and Asia are under-monetized territories for Peanuts and holding the potential for significant growth.
The completion of the strategic review came as DHX reported a loss attributable to shareholders of $14.1 million or 10 cents per share on $434.4 million in revenue for the financial year ended June 30. That compared with a loss of $3.6 million or three cents per share on $298.7 million in revenue for the previous year.
Companies in this story: (TSX:DHX)
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