What if Sony Pictures acquired DHX Media in 2018?

In the real life, On May 10, 2017, DHX announced that it had acquired the entertainment division of Iconix Brand Group for US$345 million. The purchase gave DHX full ownership to the *Strawberry Shortcake* franchise and, more prominently, an 80% majority stake in Peanuts Worldwide.

On October 2, 2017, the company announced that it was evaluating strategic alternatives, including a potential sale, following a review of its finances. DHX's debt had increased following the Iconix acquisition, and the company reported a net loss of CA$18.3 million during its fiscal fourth quarter.

On May 14, 2018, DHX announced that it would sell a 39% stake (approximately 49% of its total ownership) in Peanuts Worldwide to its Japanese licensee Sony Music Entertainment Japan for US$185 million. The sale would be used to help cover DHX's debt.

On September 24, 2018, DHX announced that it had concluded its strategic review and decided against selling the company, and that it planned to prioritize investments into digital content (including short-form digital content for WildBrain, and premium long-form content intended for platforms such as Amazon Video and Netflix), rather than television, to reflect changes in viewing habits. On the same day, the company also reported a revenue of CA $434.4 million for its fiscal 2018 (up from CA $298.7 million in its fiscal 2017). In November 2018, DHX announced the sale of its Halifax animation studio to IoM Media Ventures, a new company led by former DHX CEO Dana Landry. The Halifax animation studio had been operating on a loss. The sale was completed on December 21, 2018.

In February 2019, the company announced plans to consolidate its operations into two internal subsidiaries for "improved focus and strategic flexibility", focused on studios and networks, and digital respectively. During its investors' call, then CEO Michael Donovan stated that the company had slightly downsized its slate of productions to "focus on the shows we think have the greatest potential, particularly with respect to consumer products".

But in the alternate universe, what if Sony Pictures acquired DHX Media in 2018.

This theory is interconnected to What if DreamWorks Pictures was founded in 1980 as The Geffen Film Company?

## Changes

* The acquisition would've been announced in May 14, 2018 and completed in December 21, 2018.
* Sony Pictures Animation would've been absorbed into WildBrain and the latter company would begin managing production of Sony's animated film and television content.
	+ Sony Pictures Animation's headquarters would've been reused for WildBrain's newly-formed California animation studio.
		- Chris Wedge and 56 other Blue Sky Studios employee would've join the studio.
* Sony Pictures Television would've launch a new family network named Pop (named after the British and Irish channel of the same name), which would've air content from the WildBrain library as well as programming from Adelaide Productions/Sony Pictures Television and Silvergate Media.
* WildBrain's live-action unit would've split between Sony Pictures Television and Pop.
* Family Channel, Family Jr., Family Chrgd and Telemagino would've been sold to Blue Ant Media. However, the channels would've continue to air WildBrain-owned content under license from Sony Pictures Entertainment.
* Sony Pictures Imageworks would've been spun off into an independent entity, named simply Imageworks.