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DHX adds to board, continues review

Canadian children’s content giant DHX Media has appointed a new director to its board as the strategic review into the company continues.

Jonathan Whitcher, chief investment officer of Fine Capital Partners, has been appointed to the company’s board of directors, as of June 26.

Whitcher has been with New York-based fund Fine Capital since its inception in 2004. Before joining Fine Capital, he was an Equity Research Analyst at Citigroup Asset Management.

The move comes as the strategic review into the company, initiated by the board in October last year, continues.

This could result in the sale of part or all of the company, the offloading of some of its assets or a merger with another party.

“Management and the special committee continue to process multiple opportunities and expect to report back in due course,” DHX said in a statement.

DHX was formed in 2006 through the merger of Decode Entertainment and Halifax Film Company and has since become one of the world’s largest producers and distributors of children’s shows.

It owns properties including Peanuts, Teletubbies, Strawberry Shortcake, Caillou, Inspector Gadget and Degrassi, as well as three Canadian kids’ TV channels and WildBrain.

It is in the process of selling part of its stake in Peanuts to Sony Music Entertainment (SME) in Japan, with the US$185m deal expected to close in July.

“Jonathan has a particularly strong understanding of efficient capital allocation and capital markets in the US, as well as a good understanding of our business and the opportunities in the global kids’ content market,” said Don Wright, lead director of DHX Media.

Whitcher added: “I look forward to working with Michael Donovan and the board to maximise the value of DHX Media’s strong portfolio of assets.”

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