Children’s media firm DHX reports $18.4M loss
Writedown related to investments in film and TV totalled $34.2 million
DHX Media Ltd. says its loss in its latest quarter more than doubled compared with a year ago as it took a one-time charge. The company behind such properties as Peanuts, Teletubbies, Strawberry Shortcake, Caillou, Inspector Gadget and the Degrassi franchise says it lost $18.4 million, or14 cents per share, for the quarter ended March 31.
That compared with a loss of $8 million, or six cents per share, a year earlier.
The children’s media company 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 in Toronto for $12 million. Proceeds will pay down debt.