Rogers snags former CHUM channels
Globe and Mail Update
Rogers Communications Inc. is buying $137.5-million worth of conventional and specialty television channels from the CTV television network, completing a transaction that will appease regulators concerned about Canada's competitive broadcast landscape.
The transaction will be completed through Roger's media unit, the company said Monday morning.
When the company then known as Bell Globemedia bought CHUM Ltd. for $1.4-billion last July, it said it planned to sell its A-Channel stations, in part to allay regulator concerns about the number of TV outlets controlled in certain markets.
?Rogers has built its successful television business by serving community-focused and niche audiences,? Rael Merson, the president of Rogers Broadcasting, said in a release. ?The acquisition of these 10 television services will significantly expand our television operations and solidify our position as an important participant in the Canadian television industry.?
The deal announced Monday involves the following stations:
? the A-Channel group of six broadcast television stations in Victoria, Windsor, Wingham, London, Barrie and Ottawa
? CKX-Television, an over-the-air conventional CBC affiliate based in Brandon, Manitoba
? ACCESS Alberta, the designated provincial educational television broadcaster for Alberta
? Canadian Learning Television
? SexTV: The Channel, an English-language digital specialty service
Rogers said the transaction needs to be approved by the Canadian Radio-television and Telecommunications Commission and the Competition Bureau. The deal is also subject to CRTC's approval of the acquisition of CHUM, which included a commitment to divest these assets, Rogers said.
CTV, and The Globe and Mail, are owned by CTVGlobemedia, which was created during a restructuring that saw BCE reduce its holdings in the media group formerly known as Bell Globemedia to a minority position.
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