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Insider buying at DHX Media

The children’s hit Yo Gabba Gabba! is one of Halifax-based DHX Media’s most important propertiesThis past summer, Halifax-based children’s entertainment company DHX Media (TSX:DHX) made a splash. The company announced it would acquire peer Cookie Jar Entertainment for $111-million.

The move instantly created Canada’s largest children’s entertainment company, and made DHX the top supplier of children’s programming to Netflix.

The scale of the move impressed many analysts and at least one insider is putting his money behind the company in a big way. On October 4th, independent director Robert Sobey bought 225,000 shares of DHX at prices ranging from $1.70 to $1.75.

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Robert Sobey, whose family founded Canada’s second largest food retailer, Sobeys, more than a century ago, is currently President and Chief Executive Officer at Lawton’s Drug Stores. He has been a Director of Sobeys Inc. since 2007 and in 2009 was chosen Atlantic Canada CEO of the Year.

Founded in 2006, DHX Media boasts a library of over 2,525 half-hours of film and television, including Animal Mechanicals, Rastamouse, Angela Anaconda and the hit Yo Gabba Gabba! The company has quietly become a leader in kids TV. DHX has signed more than 1,200 license deals with over 150 children’s networks worldwide, including the BBC, Cartoon Network, PBS, The Disney Channel and Nickelodeon. The company’s fiscal 2012 revenue of $72.7-million was up 31% from the $55.4-million topline the company posted a year prior.

At press time, Shares of DHX Media were up 1.2% to $1.71.

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About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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