DHX Media takes writedown on film, TV investments
HALIFAX - DHX Media Ltd. (DHX.TO) says its loss in its latest quarter more than doubled compared with a year ago as it took a one-time charge.
The children's media company says it lost $18.4 million or 14 cents per share for the quarter ended March 31, compared with a loss of $8 million or six cents per share a year earlier.
DHX says the most recent quarter included a $34.2-million writedown related to its investments in film, licensed television programs, acquired content and intangible assets.
Revenue in what was the company's third quarter totalled $110 million, down from $116.5 million a year ago.
Last month, the company announced a deal to sell a building it owns in Toronto for $12 million. Proceeds from the deal will be used to pay down debt.
DHX is the company behind such properties as Peanuts, Teletubbies, Strawberry Shortcake, Caillou, Inspector Gadget, and the Degrassi franchise.