PRESS RELEASE

Signing of Definitive Agreement for the Acquisition of a Stake in Peanuts Holdings LLC

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May 14, 2018
Sony Music Entertainment (Japan) Inc.

Sony Music Entertainment (Japan) Inc. (Headquarters: Chiyoda-ku, Tokyo; Representative Director; Michinori Mizuno; “SMEJ”) and DHX Media Ltd. (Headquarters: Nova Scotia, Canada; Representative Director: Michael Donovan; “DHX Media”) today announced that they have signed definitive agreement for SMEJ to indirectly acquire 49% of the 80% stake held by DHX Media in Peanuts Holdings LLC (“Peanuts”). Pro forma for the transaction, DHX Media will own approximately 41% of Peanuts, SMEJ will own approximately 39%, and the members of the family of Charles M. Schulz, the creator of PEANUTS, will continue to own 20%.

PEANUTS is recognized as a world-class IP, and as one of its content holders, the Sony Music group aims to use its expertise in the character business to grow the PEANUTS IP business and strengthen the brand.

■About PEANUTS
PEANUTS
, widely known for the character ”Snoopy”, was created by Charles M. Schulz and began as a comic which was first published in seven American newspapers on October 2, 1950. Today, the comic is published in 2,200 newspapers around the world, in 21 languages and in 75 countries. In 2020 it will celebrate its 70th anniversary.

■About DHX Media
DHX Media Ltd. (TSX: DHX.A, DHX.B; NASDAQ: DHXM) is a leading children’s content and brands company, recognized globally for such high-profile properties as Peanuts, Teletubbies, Strawberry Shortcake, Caillou, Inspector Gadget, and the acclaimed Degrassi franchise. One of the world’s foremost producers of children’s shows, DHX Media owns the world’s largest independent library of children’s content, at 13,000 half-hours. It licenses its content to broadcasters and streaming services worldwide and generates royalties through its global consumer products program. Through its subsidiary, WildBrain, DHX Media operates one of the largest networks of children’s channels on YouTube. Headquartered in Canada, DHX Media has offices worldwide. 

Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as exclusive financial advisor to SMEJ on this transaction, with O'Melveny & Myers LLP acting as exclusive legal advisor.