WildBrain (TSE:WILD) has released an update.
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WildBrain has agreed to sell a majority stake in its television broadcast business to IoM Media Ventures, a Canadian-owned children’s studio, to simplify its operations and focus on key franchises. The transaction is expected to yield over $40 million for WildBrain, helping to pay down debt while retaining a minority stake in the channels. The deal awaits regulatory approval and aims to maintain the current management and workforce during the transition.
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