EastBay Asset Management, LLC Announces Increased Investment in Variable Voting Shares of DHX Media Ltd.

TORONTO, Feb. 5, 2019 /CNW/ - EastBay Asset Management, LLC ("EastBay"), in its capacity as investment manager of EastBay Master Fund, LP, EastBay Focus Fund, LP (the "EastBay Funds") and the Map 186 Segregated Portfolio managed account (a segregated portfolio of LMA SPC, a Cayman Islands segregated portfolio company) (the "Managed Account"), announced today that, since filing an amended alternative monthly report in respect of DHX Media Ltd. (the "Issuer") as at September 30, 2018, the EastBay Funds and the Managed Account have, in aggregate, acquired 11,033,306 variable voting shares of the Issuer for an average price of C$2.20 per variable voting share, and have disposed of 6,844,198 variable voting shares of the Issuer for an average price of C$2.38 per variable voting share, resulting in a net increase of 4,189,108 variable voting shares, or 3.1% of the issued and outstanding voting securities of the Issuer (being the common shares and variable voting shares of the Issuer (collectively, the "Shares")).  

As of September 30, 2018, EastBay, through the EastBay Funds and the Managed Account, exercised control or direction over an aggregate of 20,823,719 variable voting shares of the Issuer, representing 15.5% of the issued and outstanding Shares at that time. After giving effect to the transactions noted above, EastBay through the EastBay Funds and the Managed Account, now exercises control or direction over an aggregate of 25,012,827 variable voting shares of the Issuer, representing 18.5% of the issued and outstanding Shares.

EastBay acquired or disposed of the Shares through the facilities of the Toronto Stock Exchange, in the ordinary course of business, for investment purposes only. EastBay may, from time to time, on its own behalf or on behalf of the EastBay Funds, the Managed Account or other client accounts, acquire additional securities, dispose of some or all of the currently held or additional securities or may continue to hold the securities of the Issuer.

An early warning report relating to these transactions will be filed on the System for Electronic Document Analysis and Review ("SEDAR") under the Issuer's profile and can be viewed at www.sedar.com.

SOURCE EastBay Asset Management, LLC

or to obtain a copy of the early warning report, please contact: Hanif Dhanani, COO & CCO, EastBay Asset Management, LLC, 650 Fifth Avenue, Suite 1640, New York, NY 10019, Tel: [phone], Fax: [phone], [email protected]