The Canadian Press - ONLINE EDITION

CRTC approves DHX Media deal for Family Channel, Disney Junior and Disney XD

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OTTAWA - The CRTC has approved DHX Media Ltd.'s (TSX:DHX) purchase of the Family Channel as well as the Disney Junior channels in English and French and Disney XD.

Bell Media (TSX:BCE) agreed to sell the channels for $170 million as part of the approval process for its acquisition of Astral Media, which had owned the Family and Disney channels.

As part of the approval by the federal broadcast regulator, DHX will spend $17.3 million over seven years to help fund new Canadian programming as part of a "tangible benefits package."

The spending will include partnerships with public broadcasters and Aboriginal Peoples Television Network to co-fund programming as well as the creation of a family and children’s development fund for new producers.

DHX has said the deal gives it a platform to create more shows to sell globally.

The Halifax-based company's programs include "Caillou" and "Teletubbies" as well as "Inspector Gadget," "Johnny Test" and "Yo Gabba Gabba!"

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