Toronto, Canada — WildBrain  provides the following update with respect to its television broadcast business, including Family Channel, Family Jr., WildBrainTV and Télémagino.

Following a recent decision from the Canadian Radio-television and Telecommunications Commission, which found that WildBrain was not the subject of undue disadvantage from Rogers Communications Canada Inc, WildBrain has been unable to negotiate a new carriage agreement with Rogers for the Channels.

Rogers has subsequently informed the Company that it intends to remove the Channels from its distribution service, which is expected to occur in the coming months. As a result, WildBrain’s previously announced transaction to sell a majority stake in the Channels to IoM Media Ventures will no longer proceed.

In light of these events in combination with the previously announced decision by Bell to also remove the Channels, WildBrain has assessed that the Channels are no longer commercially viable and intends to cease broadcast after their removal from Rogers and surrender the Channel licenses to the CRTC. Following this, WildBrain will no longer be subject to applicable Canadian control restrictions under the Broadcasting Act and intends to remove its variable voting structure currently applicable to non-Canadian shareholders. Simplifying the Company’s voting structure to a single class will provide greater strategic flexibility and opportunities for WildBrain.

Josh Scherba, WildBrain’s President and CEO, said: “For nearly four decades, Family Channel has been a trusted destination for Canadian kids and families. We’re incredibly proud of the legacy we’ve built—thanks to our loyal viewers, dedicated television employees and the many talented Canadian producers we’ve partnered with.

“While it is unfortunate that the channels will be discontinued, the impact on our broader business is minimal and does not affect our go-forward strategy. WildBrain remains a global leader in kids’ and family entertainment, with unique strengths in monetizing entertainment IP across content creation, audience engagement and global licensing. We have deliberately positioned our business to align with changing consumer habits, including a strategic exit from the declining broadcast space in Canada.

“We delivered 17% growth year-to-date through the third fiscal quarter, underscoring the strength of our diversified platform beyond the television business despite ongoing industry headwinds. We remain focused on sustaining that momentum by leveraging our iconic IP—such as Peanuts, Strawberry Shortcake and Teletubbies—across streaming, YouTube, consumer products and immersive fan experiences. As the entertainment landscape evolves, so do we—with a clear vision and an unwavering commitment to delivering quality content and beloved brands to kids and families around the world.”