CTVGLOBEMEDIA INC. ANNOUNCES COMPLETION OF CHUM LIMITED TRANSACTION CNW CTVglobemedia Inc. (CTVgm) today announced it has closed the transaction for CHUM Limited having satisfied all of the conditions for approval as set out in the Canadian Radio-television and Telecommunications Commission (CRTC) decision of June 8, 2007.
All of the assets of CHUM Limited have now been released from the Voting Trust Agreement with Mr. John D. McKellar, C.M., Q.C. with the exception of the five Citytv stations which will remain in trust with Mr. McKellar pending regulatory approval of their sale to Rogers Broadcasting Limited. As previously announced CTVgm will proceed with the sale to Astral Media of CHUM Limited's 50% interest in MusiquePlus and MusiMax.
CHUM Limited assets acquired include 34 radio stations, the A-Channel Network of 6 local stations, CKX Brandon, and 19 specialty stations including MuchMusic, Bravo!, Space, CP24 and CLT.
CTVglobemedia Inc. is Canada's premier multi-media company which owns CTV Inc. and The Globe and Mail. CTV Inc. owns and operates conventional television and radio stations across the country, and leading national specialty channels. Other CTVglobemedia investments include an interest in Maple Leaf Sports and Entertainment, and in Dome Productions, a North American leader in the provision of mobile high definition production facilities. |