CTVGLOBEMEDIA ACQUISITION OF CHUM LIMITED CLEARED BY COMPETITION BUREAU CNW CTVglobemedia Inc. has been advised by the Competition Bureau that the Bureau does not have grounds upon which to challenge CTVgm's acquisition of CHUM Limited. The decision follows a diligent and thorough review of the industry by the Bureau's Mergers Branch.
CTVglobemedia's acquisition of CHUM Limited remains subject to approval by the Canadian Radio-television and Telecommunications Commission (CRTC). CTVgm's application for such approval was made public yesterday by the CRTC, which also announced a public hearing to review the application will commence on April 30, 2007.
CTVglobemedia is one of Canada's premier multi-media companies with ownership interests in CTV Inc. and The Globe and Mail. CTV Inc. operates 21 conventional television stations across Canada and has interests in 15 specialty channels. Other CTVglobemedia investments include: an interest in Maple Leaf Sports and Entertainment, which owns the Toronto Maple Leafs, Toronto Raptors and the Air Canada Centre; and an interest in Dome Productions, a North American leader in the provision of mobile high definition production facilities. |