DHX Media announces acquisition earn-out and analyst call

    AIM and TSX: DHX

    HALIFAX, May 14 /CNW/ - DHX Media Ltd (AIM & TSX ticker: "DHX") ("the
Company" or "DHX"), a leading independent international producer and
distributor of mainly children's television programming and interactive
content, announces the payment of $500,000 in cash, and the issuance today of
1,500,000 common shares of the Company, which are subject to a lock-in
agreement, in equal parts to each of Blair Peters and Chris Bartleman pursuant
to the earn-out associated with the acquisition of Studio B Productions Inc.
("Studio B") which was previously announced on December 4, 2007. These shares
will be subject to a lock-in agreement under which the shares will be released
in equal one-third tranches over three years beginning on May 13, 2010.
Following this announcement, these shares represent 3.4% of the outstanding
share capital of DHX of which Blair Peters and Chris Bartleman, officers of
DHX Media's Studio B subsidiary, each now hold 1.7%.
    DHX CEO and Chairman Michael Donovan commented, "We are delighted at
Studio B's success since joining DHX in late 2007. Under Blair Peters and
Chris Bartleman's leadership, Studio B has succeeded in obtaining commissions
for new children's series with both domestic and international broadcasters.
Most notably, we have been excited by the international interest in Martha
Speaks which airs on PBS in the U.S. and Kid vs. Kat which started to air on
Disney XD in the U.S. in February. Studio B's production slate continues to
grow with several new series under development."
    Following the issuance of all of the shares referred to above, the total
outstanding issued common share capital of DHX is 44,358,743 common shares.
    Application for the admission to trading on AIM of the 1,500,000 common
shares will be made shortly and it is expected that such admission will be
effective on or around May 22, 2009.
    DHX also announces that it will hold a conference call for analysts to
discuss its financial results on Tuesday, May 19th at 11:00 am ET (4:00 pm
GMT). Media and others may access this call on a listen-in basis.

    Conference call details are as follows:


      Date: Tuesday, May 19 2009

      Time: 11:00 am ET (4:00 pm GMT)

    By telephone: 800-731-5774 or (416) 644-3424 for the Toronto area. Please
allow 10 minutes to be connected to the conference call.
    Replay: Instant replay will be available beginning approximately one hour
after the call at 877-289-8525 toll free or 416-640-1917, and passcode
21306044# (pound key), until midnight ET Tuesday, May 26, 2009.

    About DHX Media Ltd.

    DHX Media Ltd. is a leading international producer and distributor of
television programming and interactive content with an emphasis on children,
family and youth markets. DHX Media Ltd. shares trade on AIM and are listed on
the TSX, the Toronto Stock Exchange. DHX Media's production companies, Decode
Entertainment, Halifax Film and Studio B Productions, are the producers or
co-producers of 14 original television series and theatrical releases
currently commissioned for production and maintain a growing library of over
2,200 half-hours of mostly children and youth-oriented television productions.


    This press release contains forward looking statements with respect to
the Company. Although the Company believes that the expectations reflected in
such forward looking statements are reasonable, such statements involve risks
and uncertainties and are based on information currently available to the
Company. Actual results may differ materially from those expressed or implied
by such forward looking statements. Factors that could cause actual results or
events to differ materially from current expectations, among other things,
include risks related to market factors, customer contract interpretation,
application of accounting policies and principles, and production related
risks, and other factors discussed in materials filed with applicable
securities regulatory authorities from time to time including matters
discussed under "Risk Factors" in the Company's short form prospectus dated
November 7, 2007 and in the Company's Amended Annual Information Form
incorporated by reference therein. These forward-looking statements are made
as of the date hereof, and the Company assumes no obligation to update or
revise them to reflect new events or circumstances.
    %SEDAR: 00023380E

For further information:

For further information: DHX Media Ltd.: David A. Regan, EVP, Corporate
Development & IR, (902)423-0260; AIM Nominated Advisors: Grant Thornton UK
LLP: Gerry Beaney, Troy MacDonald, +44 (0) 20 7383 5100

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