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| Rogers Media to Acquire Certain Conventional and Specialty Television Services from CTVglobemedia Inc. |
| Posted
on Monday, April 09, 2007 - 02:40 PM |
Rogers Media and CTVglobemedia Inc. ("CTVgm") today announced an agreement under which Rogers Broadcasting, a Rogers Media subsidiary, would acquire certain Canadian conventional and specialty television services from CTVglobemedia Inc. These assets are currently under the control of Mr. John D. McKellar, C.M., Q.C., Trustee under a Voting Trust Agreement in respect of CHUM Limited. CHUM Limited and Mr. McKellar are also parties to this agreement.
This transaction is subject to Canadian Radio-television and Telecommunications Commission ("CRTC") and Competition Bureau approval. The agreement is also subject to CRTC approval of CTVgm's acquisition of CHUM Limited, which included a commitment to divest these assets.
The all cash transaction is valued at $137.5 million and includes the following television assets:
- The A-Channel station group of six over-the-air conventional
broadcast television stations including CIVI Victoria, CHWI Windsor,
CKNX Wingham, CFPL London, CKVR Barrie, and CHRO Ottawa;
- CKX-Television, an over-the-air conventional CBC affiliate based in
Brandon, Manitoba broadcasting CBC, local and syndicated programming
to Western Manitoba and Eastern Saskatchewan;
- ACCESS Alberta, the designated provincial educational television
broadcaster for Alberta, available over-the-air and via cable,
satellite and telco distributors;
- CLT (Canadian Learning Television), Canada's only national
educational television specialty service designed to inform, enrich
and educate, available via cable, satellite and telco distributors;
and
- SexTV: The Channel, an English language digital specialty service,
dedicated to love, romance, marriage, relationships, sexuality and
gender issues, available across Canada via cable, satellite and telco
distributors.
"Rogers has built its successful television business by serving community-focused and niche audiences," said Rael Merson, President, Rogers Broadcasting. "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. This also complements our strong position in Canadian radio, sports broadcasting and publishing."
"These important stations are run by very talented people and we are delighted to have been able to find them a wonderful home at Rogers Broadcasting," said Ivan Fecan, CTVglobemedia President and Chief Executive Officer and CEO of CTV Inc. "Rogers is a highly respected Canadian media company. They are great builders and as such, are an excellent fit as the purchaser of these assets. I know they will continue to grow the specialty channels and apply their significant expertise, financial resources and commitment to conventional tv to ensure the A-Channel local stations not only survive, but thrive. This acquisition will both provide for diversity of local voices and give Rogers the scale to emerge as the fourth national English language over the air player together with CTV, CanWest and the CBC."
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