Business
DHX Media acquires Ragdoll Worldwide; owner of 'Teletubbies' and 'In the Night Garden' children's brands
-     GBP 17.4 Million Deal For 1,353 Episodes Across 12 Properties - ...
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[{"type":"text","content":"\n\n\n-   GBP 17.4 Million Deal For 1,353 Episodes Across 12 Properties - \n\n\n\n\n\nHALIFAX, Sept. 16, 2013 /CNW/ - DHX Media Ltd. (TSX: DHX), a leading\n independent creator, producer, distributor and licensor of children's\n entertainment content, is pleased to announce its acquisition of\n Ragdoll Worldwide Ltd. (\"Ragdoll\") from BBC Worldwide and a group\n including the founder of Ragdoll, Anne Wood for GBP 17.4 million\n (approximately CAD $28.4 million) in cash, to be funded from a CAD $25\n million expansion of DHX Media's current debt facility and the balance\n from cash reserves, including its revolving line of credit. DHX Media\n expects the transaction to be accretive to net earnings per share for\n fiscal 2014.\n\n\nUnder the agreement, DHX Media obtains twelve series, including popular\n UK series The Adventures of Abney & Teal, BAFTA-winning Dipdap and Brum, in addition to 365 episodes of Teletubbies, 52 episodes of Teletubbies Everywhere and 100 episodes of In the Night Garden.  Lauded for entertaining and educating generations of children around\n the globe, Ragdoll Worldwide's flagship properties, Teletubbies and In the Night Garden, have achieved significant commercial success since inception through\n strong broadcast and licensing programs. Teletubbies has aired in over 120 countries and its enduring resonance with\n children is further underscored by the fact that its top five postings\n on YouTube have garnered a cumulative 286,000,000 views.\n\n\nMichael Donovan, CEO of DHX Media, said: \"Teletubbies and In the Night Garden are worldwide phenomena. These globally recognized brands will be highly\n complementary to the DHX Media library, which is now one of the largest\n independent libraries of children's TV content in the world.  As a\n leading supplier to subscription video on-demand (\"SVOD\") services\n worldwide, and as an operator of our own SVOD, we are uniquely\n positioned to continue to develop these evergreen children's properties\n in exciting new ways and we also look to maintain a continuing link\n with Anne Wood, one of the most experienced and passionate producers in\n the business.\"\n\n\nRagdoll Worldwide was established as a joint venture in 2006 between BBC\n Worldwide, BBC's commercial arm, and Anne Wood's production company,\n Ragdoll Ltd. Anne Wood is ...