DHX Media makes strategic investment in childrens' game firm Tribal Nova
(Halifax, Canada) DHX Media Ltd. (AIM & TSX ticker: “DHX”), a leading independent international producer and distributor of television programming and interactive content, announces that it has completed a strategic investment in privately-held Tribal Nova Inc. by acquiring a 16.77% interest in the company for cash consideration of CAD $2 million.
Montreal, Canada-based Tribal Nova is an established, on-line game developer and operator of gaming and video-on-demand (VOD) broadband channels for children 3 to 12. Tribal Nova commercializes these channels in partnership with major children’s TV broadcasters and Internet Service Providers (ISPs) in North America and Europe, and shares significantly in the subscription revenues generated.
The partnership will provide another platform over which DHX Media can exploit its content library. DHX Media will also benefit from its equity participation by introducing Tribal Nova to its children’s broadcaster clients around the world for whom an internet presence with a viable business model. Tribal Nova will offer broadcasters the ability to create new revenue streams from its subscription service gaming and VOD platforms.
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