TORONTO (Reuters) - DHX Media said on Thursday it has agreed to acquire Family Channel and three other children’s channels from BCE’s Bell Media for C$170 million in cash, in a move to diversify its distribution capabilities.
Halifax-based DHX, which is known for creating, producing and licensing shows such as Teletubbies, Yo GabbaGabba and Caillou, said it is financing the deal via cash on-hand and a credit facility.
The deal, subject to subject to regulatory approval, is expected to close in 2014.
BCE was ordered, by the Competition Bureau to sell these television channels, along with certain others, to secure approval for its C$3 billion ($2.83 billion) takeover of Astral Media Inc.
Reporting by Euan Rocha; Editing by Leslie Gevirtz