Canada TV Merger OK, But Rogers Deal Foiled
CTVglobemedia Acquires Chum
By Kent Gibbons -- Multichannel News, 6/8/2007 8:23:00 AM
Canada’s broadcast regulator Friday approved the sale of Chum to CTVglobemedia but with a condition that apparently wipes out a
.
The Canadian Radio-television and Telecommunications Commission nixed the sale of five Chum-owned Citytv stations in Toronto, Winnipeg, Edmonton, Calgary and Vancouver to CTVglobemedia, owner of the CTV network, citing a policy that bars any entity from operating more than one conventional television station in one language in a given market.
The $137.5 million Rogers deal with Chum, struck in April, was based on there being no significant conditions attached to the bigger, $1.4-billion Chum sale.
Rogers had agreed to buy six over-the-air TV stations (the A-Channel group); an educational broadcaster in Alberta; CLT (Canadian Learning Television) and SexTV.
Now, Rogers is considered a leading candidate to buy the five Chum TV stations barred from sale to CTV, according to CTVglobemedia-owned newspaper The Globe and Mail.
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