DHX Media, a producer and distributor of television programming and interactive content, has acquired a 16.77% interest in Tribal Nova, an online game developer for children, for a cash consideration of CAD2 million.
Tribal Nova has recently launched its first channels in France and Canada in collaboration with internet service providers such as Orange and AOL/Neuf Cegetel. Another channel is scheduled to launch in the US in early 2008, in partnership with a US TV children’s broadcaster.
The partnership will provide DHX Media a platform over which it can use its content library. DHX Media will also benefit from its equity participation by introducing Tribal Nova to its children’s broadcaster clients around the world. Tribal Nova will offer broadcasters the ability to create new revenue streams from its subscription service gaming and video on demand platforms.
Michael Donovan, chairman and CEO of DHX Media, said: A key tenet in DHX Media’s strategy is the exploitation of digital content online and we look forward to working with this new distribution channel partner.
Guillaume Aniorte and Pierre Le Lann, co-CEO’s of Tribal Nova, said: With this investment, we plan on taking our broadband channels to even more exciting levels by integrating major community, web 2.0 and user-generated content functionalities adapted for kids. We also plan on accelerating our international expansion into European and North American markets.