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

As Prime Minister, Kellie Leitch would scrap CBC

Tory leadership hopefuls are outlining their views on national broadcaster's future

‘Your Morning’ embarks on first travel partnership

Sponsored giveaway supported by social posts directed at female-skewing audience

KitchenAid embraces social for breast cancer campaign

Annual charitable campaign taps influencers and the social web for the first time

Netflix debates contributions with Canadian Heritage

Netflix remains wary of regulation as some tout 'Anne' and 'Alias Grace' partnerships

Canadians warm up to social commerce

PayPal and Ipsos research shows "Shop Now" buttons are gaining traction

Online ad exchange AppNexus cuts off Breitbart

Popular online ad exchange bans site for violating hate speech policy

Robert Jenkyn is back at Media Experts

Former Microsoft and Globe and Mail exec returns to the agency world

2016 Media Innovation Awards: The complete winners list

All the winning agencies from media's biggest night out!

A CEO’s tips for using DIY video in consumer marketing (Column)

Vidyard's Michael Litt argues against outdated 'text tunnel vision'