Purchase secures local programming and all employee jobs
TORONTO, June 30 /CNW/ - Channel Zero Inc., a private Canadian television
broadcaster, has agreed to purchase CHCH-TV in Hamilton and CJNT-TV in
Montreal from Canwest. This deal ensures the continued operation and local
focus of both stations and the employment of all current employees.
Channel Zero understands the importance of these stations to their
immediate and extended markets and will build on the strengths of both
stations to create a strong regional and national presence. CHCH-TV, a leader
in news programming, will broadcast all news/all day with well known movie
favourites in the evening. CJNT-TV will broadcast both original foreign movies
and multicultural music videos, with vibrant, fresh multicultural hosts.
"We are excited to have CHCH-TV and CJNT-TV join the Channel Zero team,"
said Cal Millar V.P. and General Manager, Channel Zero. "By enhancing and
energizing the format and focusing on what each station does best, we know
that both stations will be national leaders in their format, will have huge
appeal to their core audiences and will be very advertiser friendly."
"We are committed to high definition programming on these stations and
have aggressive high definition expansion plans," said Romen Podzyhun,
President and CEO, Channel Zero Inc. "HD will keep the stations on the leading
edge and will enhance the experience for both viewers and advertisers."
Conditions of the sale include Canwest securing an extension of CHCH's
collective agreement with the Communications, Energy and Paperworkers Union
(CEP) and purchase approval from the Canadian Radio-Television and
Telecommunications Commission (CRTC). A purchase price has not been disclosed.
Channel Zero intends to file applications with the CRTC requesting
approval for the transfer of control of the station's licences under terms and
conditions substantially similar to those contained in the current licences.About Channel Zero Inc.
-----------------------Since its creation in 2000, Channel Zero has overseen the creation and
broadcast success of several digital specialty networks - including Movieola -
The Short Film Channel and Silver Screen Classics. In 2006 Channel Zero
created Ouat Media Inc., a film and new media content distribution company, to
assist the company in carrying out its mandate of providing quality
entertainment to audiences around the world. With a strong professional skill
base and original vision, Channel Zero continues to expand the specialty
channel boundaries in Canada and abroad, through creative and innovative
programming, promotion and exhibition. www.tvchannelzero.com
Channel Zero was advised on this transaction by Klein Farber Corporate
Finance Inc. www.kleinfarber.com
For further information: Karen Gordon, Squeaky Wheel Communications
Inc., (416) 997-9478, email@example.com