- GBP 17.4 Million Deal For 1,353 Episodes Across 12 Properties -
HALIFAX, Sept. 16, 2013 /CNW/ - DHX Media Ltd. (TSX: DHX), a leading
independent creator, producer, distributor and licensor of children's
entertainment content, is pleased to announce its acquisition of
Ragdoll Worldwide Ltd. ("Ragdoll") from BBC Worldwide and a group
including the founder of Ragdoll, Anne Wood for GBP 17.4 million
(approximately CAD $28.4 million) in cash, to be funded from a CAD $25
million expansion of DHX Media's current debt facility and the balance
from cash reserves, including its revolving line of credit. DHX Media
expects the transaction to be accretive to net earnings per share for
fiscal 2014.
Under the agreement, DHX Media obtains twelve series, including popular
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
the globe, Ragdoll Worldwide's flagship properties, Teletubbies and In the Night Garden, have achieved significant commercial success since inception through
strong broadcast and licensing programs. Teletubbies has aired in over 120 countries and its enduring resonance with
children is further underscored by the fact that its top five postings
on YouTube have garnered a cumulative 286,000,000 views.
Michael Donovan, CEO of DHX Media, said: "Teletubbies and In the Night Garden are worldwide phenomena. These globally recognized brands will be highly
complementary to the DHX Media library, which is now one of the largest
independent libraries of children's TV content in the world. As a
leading supplier to subscription video on-demand ("SVOD") services
worldwide, and as an operator of our own SVOD, we are uniquely
positioned to continue to develop these evergreen children's properties
in exciting new ways and we also look to maintain a continuing link
with Anne Wood, one of the most experienced and passionate producers in
the business."
Ragdoll Worldwide was established as a joint venture in 2006 between BBC
Worldwide, BBC's commercial arm, and Anne Wood's production company,
Ragdoll Ltd. Anne Wood is one of the UK's best-known and critically
renowned children's television producers. She was awarded a CBE in the
2000 Millennium Queen's Honors List for her services to children's
broadcasting and is responsible for some of the world's most recognized
children's programming creations.
Anne Wood, founder of Ragdoll Productions Ltd and co-creator of Teletubbies with Andrew Davenport, who also created In the Night Garden said: "The sale of Ragdoll Worldwide will procure future growth for
Ragdoll Productions and, with the passing of creative control for the
future development of our catalogue of award-winning programs to DHX
Media, we are confident of their continued success for many years to
come."
Anne Wood, together with her son, Christopher, will continue to manage
and operate their own company, Ragdoll Productions, for which she will
serve as Founder and Creative Director.
Marcus Arthur, Managing Director of BBC Worldwide, UK and Australia
said: "Finding the right new home for these beloved children's
properties was incredibly important for BBC Worldwide as we have worked
hard over the years with Ragdoll to nurture them and build their
popularity and commercial success both in the UK and internationally.
We are pleased that the brands will now see their next stage of growth
under the ownership of DHX Media."
About DHX Media
DHX Media (www.dhxmedia.com) is a leader in the creation, production and licensing of family
entertainment rights. DHX Media owns, markets and distributes over
8,500 half hours of children's entertainment content, and exploits
owned properties through its consumer products licensing business. DHX
Media is recognized for brands such as Caillou, Busytown Mysteries,
Inspector Gadget, Johnny Test, Animal Mechanicals, Kid vs. Kat, Super
WHY!, Rastamouse, and Yo Gabba Gabba!. The company also provides
programming for Cookie Jar TV, the weekend morning block on CBS. DHX
Media's full-service international licensing agency, Copyright
Promotions Licensing Group, (CPLG), represents numerous entertainment,
sport and design brands. DHX Media has offices in Toronto, Los Angeles,
Vancouver, Halifax, London, Paris, Barcelona, Milan, Munich,
Netherlands and is listed on the Toronto Stock Exchange.
About BBC Worldwide Ltd. BBC Worldwide Limited is the main commercial arm and a wholly owned
subsidiary of the British Broadcasting Corporation (BBC). BBC Worldwide
exists to support the BBC public service mission and to maximise
profits on its behalf. It does this through investing in,
commercialising and showcasing content from the BBC around the world,
in a way that is consistent with BBC standards and values. The business
also builds the reach and reputation of the BBC brand overseas and
champions British creativity.
In 2012/13, BBC Worldwide generated headline profits of £156m and
headline sales of £1,116m and returned £156m to the BBC. For more
detailed performance information please see our Annual Review website: http://www.bbcworldwide.com/annualreview
bbcworldwide.com
twitter.com/bbcwpress
SOURCE DHX MEDIA LTD.
Image with caption: "Canada's DHX Media (TSX:DHX) today acquired Teletubbies, In the Night Garden and 10 other children's series with the purchase of the UK's Ragdoll Worldwide Ltd. for approximately $28.4-million CAD. Teletubbies characters shown: Dipsy (green), Tinky Winky (purple), Laa-Laa (yellow), and Po (red) (CNW Group/DHX MEDIA LTD.)". Image available at: http://photos.newswire.ca/images/download/20130916_C7347_PHOTO_EN_30863.jpg
Image with caption: "Canada's DHX Media (TSX:DHX) today acquired Teletubbies, In the Night Garden and 10 other children's series with the purchase of the UK's Ragdoll Worldwide Ltd. for approximately $28.4-million CAD. Teletubbies characters shown: Dipsy (green), Tinky Winky (purple), Laa-Laa (yellow), and Po (red), and Noo Noo, their vacuum cleaner. (CNW Group/DHX MEDIA LTD.)". Image available at: http://photos.newswire.ca/images/download/20130916_C7347_PHOTO_EN_30864.jpg
Image with caption: "Canada's DHX Media (TSX:DHX) today acquired In the Night Garden, Teletubbies and 10 other children's series with the purchase of the UK's Ragdoll Worldwide Ltd. for approximately $28.4-million CAD. In the Night Garden characters shown (L-R): Upsy Daisy, Makka Pakka, the Tombliboos, Igglepiggle (back), and Pinky Ponk (flying). (CNW Group/DHX MEDIA LTD.)". Image available at: http://photos.newswire.ca/images/download/20130916_C7347_PHOTO_EN_30867.jpg
Image with caption: "Canada's DHX Media (TSX:DHX) today acquired In the Night Garden, Teletubbies and 10 other children's series with the purchase of the UK's Ragdoll Worldwide Ltd. for approximately $28.4-million CAD. In the Night Garden characters shown: the Haahoos. (CNW Group/DHX MEDIA LTD.)". Image available at: http://photos.newswire.ca/images/download/20130916_C7347_PHOTO_EN_30868.jpg
Image with caption: "Canada's DHX Media (TSX:DHX) today acquired In the Night Garden, Teletubbies and 10 other children's series with the purchase of the UK's Ragdoll Worldwide Ltd. for approximately $28.4-million CAD. In the Night Garden characters shown (L-R): Upsy Daisy and Igglepiggle. (CNW Group/DHX MEDIA LTD.)". Image available at: http://photos.newswire.ca/images/download/20130916_C7347_PHOTO_EN_30869.jpg
