DHX Media stock spikes after announcing strategic review including possible sale

HALIFAX — DHX Media Ltd. stock shot up almost six per cent Monday after it said it has launched a review of strategic alternatives including the possible sale of all or part of the company.The children’s entertainment company says it has formed a special committee of independent directors to consider and evaluate its various options.At the close, DHX stock was up 5.9 per cent at $5.54.The company says its board has not set a timetable for the process nor has it made any decisions related to any alternatives.It noted that there could be no assurance that the review will result in a transaction.Shares in DHX were hammered last week after the company reported disappointing financial results.DHX signed a deal earlier this year to add the Peanuts and Strawberry Shortcake brands to its other properties, which include rights to the Teletubbies, Inspector Gadget and Degrassi.

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