Rebuffed Rogers Buys Stations
Canadian Media Co. to Acquire Five Citytv Stations from Chum
By Multi Channel News Staff -- Multichannel News, 6/12/2007 5:32:00 AM
Rogers Media shifted quickly to plan B, saying Tuesday that it agreed to buy five TV stations from CTVglobemedia after failing to buy a TV-station group from Chum.
Rogers, which owns Canada’s largest cable operator, said its Rogers Broadcasting arm would buy the five Citytv stations for $375 million in cash, subject to approval by the Canadian Radio-television and Telecommunications Commission.
The CRTC last week nixed Rogers’ plans to buy Chum’s so-called A-Channel stations and other programming assets (including Sex TV: The Channel). That $137.5 million proposed transaction was to be part of an overall sale of Chum to CTV.
The stations Rogers is buying are in Toronto, Winnipeg, Edmonton, Calgary and Vancouver. They’re “local, urban-oriented stations known for their ties to the communities they serve,” according to Rogers and CTV.
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