TORONTO, March 7 /CNW/ - Corus Entertainment Inc. (TSX:CJR.B; NYSE: CJR)
announced today that the Company has reached an agreement to purchase the
analog specialty television service CLT (Canadian Learning Television) from
CTVglobemedia. The transaction is subject to approval by the Canadian
Radio-television and Telecommunications Commission (CRTC). The acquisition
price for CLT is approximately $73 million Cdn (subject to the customary
"The acquisition of CLT represents another great growth opportunity for
Corus Entertainment," said John Cassaday, President and CEO, Corus
Entertainment. "We are convinced that with the access to over 5 million
households that CLT currently enjoys we have the know-how and experience to
build on the success the network has achieved thus far."
About Corus Entertainment Inc.
Corus Entertainment Inc. is a Canadian-based media and entertainment
company. Corus is a market leader in specialty television and radio with
additional assets in pay television, advertising and digital audio services,
television broadcasting, children's book publishing and children's animation.
The company's multimedia entertainment brands include YTV, Treehouse,
W Network, Movie Central, Nelvana, Kids Can Press and radio stations including
CKNW, CKOI and Q107. Corus creates engaging branded entertainment experiences
for its audiences across multiple platforms. A publicly traded company, Corus
is listed on the Toronto (CJR.B) and New York (CJR) exchanges. Experience
Corus on the web at www.corusent.com.
%SEDAR: 00013131E %CIK: 0001100868
For further information:
For further information: Tracy Ewing, Vice President, Communications,
Corus Entertainment Inc., (416) 642-3792