TORONTO–(BUSINESS WIRE)–KEW MEDIA GROUP INC. (“KEW MEDIA”, “KEW” or the “Company”) (TSX:KEW and KEW.WT) today refiled its Management’s Discussion and Analysis for the three and six months ended June 30, 2019 (“Q2 2019”) to correct the definition of Adjusted Net Income, to conform the calculation of Adjusted Net Income after tax on page 10 to page 5, and to make corresponding changes. The Refiled Management’s Discussion and Analysis for Q2 2019 is available on the Company’s investor relations website at https://investors.kewmedia.com and under the Company’s profile at www.sedar.com. All financial results are reported in Canadian dollars unless otherwise stated.
About KEW MEDIA GROUP INC.
KEW MEDIA GROUP is a leading publicly-listed content company that produces and distributes multi-genre content worldwide. Companies included in the KEW family are the production companies: Architect Films, Awesome Media & Entertainment, Bristow Global Media, Collins Avenue Productions, Essential Media Group, 4East Media, Frantic Films, Jigsaw Productions, Media Headquarters, Our House Media, Sienna Films, Spirit Digital Media, and Two Rivers Media; and the distribution companies: KEW Media Distribution and TCB Media Rights.
With primary offices in London, Los Angeles, New York, Sydney and Toronto, the KEW MEDIA GROUP companies develop, produce and distribute more than 2,000 new hours of content every year, as well as manage a library of more than 14,000 hours of content, for almost every available viewing platform worldwide. KEW aspires to offer great content from all over the world to viewers of all ages and tastes. KEW promotes transparency, equality, respect, and inclusiveness and plans to grow with the benefit of people from a wide range of perspectives and backgrounds.
This news release contains references to certain measures that do not have a standardized meaning under International Financial Reporting Standards (“IFRS”) as prescribed by the International Accounting Standards Board and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing a further understanding of operations from management’s perspective. Accordingly, non-IFRS measures should not be considered in isolation nor as a substitute for analysis of financial information reported under IFRS. This news release makes reference to Adjusted Net Income, which is a non-IFRS financial measure. The Company believes this non-IFRS financial measure is frequently used by securities analysts, investors and other interested parties as a measure of financial performance and it is therefore helpful to provide a supplemental measure of operating performance and thus highlight trends that may not otherwise be apparent when relying solely on IFRS financial measures.
Please see the Company’s management’s discussion and analysis for the three and six months ended June 30, 2019 for a detailed description of these measures and a reconciliation of these measures to the nearest IFRS measure.
Chief Executive Officer