Astral and Corus to acquire remaining 20% of Teletoon from Cookie Jar Group General News / Teletoon Posted by RAD on Jul 13, 2006 - 03:12 PM Astral Media Inc. and Corus Entertainment Inc. today announce that they have reached an agreement to acquire the remaining 20% of the TELETOON network from the shareholders of The Cookie Jar Group. The transaction, which is subject to the approval of the Canadian Radio-television and Telecommunications Commission (CRTC), will give Astral Media and Corus Entertainment each an additional 10% ownership of TELETOON, bringing their individual ownership to 50% each. The acquisition price for the 20% stake in the network is approximately CDN $96 million (subject to the customary closing adjustments). The very successful TELETOON television network is Canada's first and only 24-hour animation network with programming for audiences of all ages. With English- and French- language services, the network offers viewers classic cartoons and new animation from Canada and around the world. Since its launch in 1997, TELETOON has become one of the most popular viewing options for kids, teens, young adults and families. The network currently reaches over three million Canadian kids aged two to 11 and is available in almost seven million homes. This article is from CHANNEL CANADA   http://www.channelcanada.com/ The URL for this story is:   http://www.channelcanada.com/modules.php?op=modload&name=News&file=article&sid=1461