DHX Media Ltd. (DHX.TO: Quote) announced it has entered into a definitive agreement to acquire the business of Cookie Jar Entertainment. The transaction implies an enterprise value for Cookie Jar of $111 million, to be paid through a combination of approximately 36 million DHX shares, $5 million in cash, and the assumption of $66 million of debt.
Cookie Jar has a significant content library and features recognizable series including Caillou, Inspector Gadget, and Johnny Test. The company controls Cookie Jar TV, the weekend morning block on CBS. Cookie Jar has offices in Toronto, Los Angeles and in addition, throughout Western Europe, as part of its Copyright Promotions Licensing Group, a licensor and merchandiser of third party brands and characters.
Following the closing, Michael Hirsh, current CEO of Cookie Jar, will become Executive Chairman of DHX. Cookie Jar's current President & COO Toper Taylor will continue to focus on digital distribution and business development. Aaron Ames, CFO of Cookie Jar, will assume the role of Chief Integration Officer.
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by RTT Staff Writer
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