Canadian children’s entertainment company DHX Media is currently planning to buy out their rival animation studio Cookie Jar to the sweet tune of $112 million, according to a recent report from The Hollywood Reporter.
The Halifax-based DHX Media, which is currently helmed by Michael Donovan, will be taking over Cookie Jar’s library of over six thousand five hundred half hours of programming, that includes hit shows such as Arthur, Caillou, and Care Bears as it offers 36 million DHX shares, $5 million in cash, and taking on $66 million in debt. The new DHX mega-library will then include Yo Gabba Gabba!, Rastamouse, Franny’s Feet, Animal Mechanicals, Kid vs Kat, Angela Anaconda, Martha Speaks, along with Caillou, Inspector Gadget, Strawberry Shortcake, Care Bears, The Doodleboos, and Johnny Test.
Cookie Jar is no stranger to acquisitions, having acquired the Burbank-based DIC Entertainment Holdings for $87.6 million four years ago. Cookie Jar is also owner of an educational publishing business.
Michael Donovan, CEO of DHX Media said: “This deal significantly enhances our operations in key areas. The acquisition of Cookie Jar increases our global reach, scale and potential growth. We are also focused on positioning the company to take advantage of emerging distribution platforms and this deal will elevate our position in this area of business.”