DHX Media To Acquire Family Channel Business From Bell Media - Quick Facts

(RTTNews) - DHX Media Ltd. (DHX.TO) announced it has entered into a definitive agreement to acquire Family, children's channel in Canada, as well as Disney XD, Disney Junior (English-language channel) and Disney Junior (French-language channel) from Bell Media for approximately C$170 million in cash, subject to certain customary post-closing adjustments.

Dana Landry, CFO of DHX Media, said: "The acquisition of these well positioned properties is expected to be materially accretive. It will greatly expand the scale of our business, with revenue increasing by more than 70% and EBITDA by more than 90% for the last 12 months on a pro-forma basis."

DHX Media expects the purchase price to be financed with an expanded underwritten credit facility and with cash on hand. The company entered into a commitment agreement with RBC Capital Markets to provide a fully underwritten senior debt financing. The enlarged financing package will consist of a C$210 million five-year term loan facility to refinance existing debt and pay a portion of the cash consideration of the transaction and a C$30 million revolving credit facility for working capital and general corporate purposes.