TORONTO, June 11 /CNW/ - CTVglobemedia Inc. today announced its
acceptance of the Canadian Radio-television and Telecommunications Commission
(CRTC) ruling of June 8th, regarding the transfer of effective control of CHUM
"We are embracing this decision. The people of CHUM Limited have been in
limbo for almost a year and it is in everyone's best interest to move forward
and build a stronger Company from the combination of CTV and CHUM," said Ivan
Fecan, President and Chief Executive Officer CTVglobemedia and CEO CTV Inc.
CTVgm will retain the A-Channels and Access Alberta.
As required by the CRTC, the Citytv stations will be divested. The sale
of these stations to a pre-emptive bidder is being announced concurrently.
The previously announced sale of CHUM's interest in specialty stations
MusiquePlus and MusiMax to Astral Media will also go forward.
CTVglobemedia will retain all other CHUM assets with the possible
exceptions of specialty channel Canadian Learning Television and CBC affiliate
CKX-TV, Brandon. CTVgm will announce its intentions for these stations in the
next few days.
CTVglobemedia Inc. is one of Canada's premier multi-media companies which
owns CTV Inc. and The Globe and Mail. CTV Inc. operates 21 conventional
television stations across Canada and has interests in 16 specialty channels.
Other CTVglobemedia investments include an interest in Maple Leaf Sports and
Entertainment, which owns the Toronto Maple Leafs, Toronto Raptors and the Air
Canada Centre and an interest in Dome Productions, a North American leader in
the provision of mobile high definition production facilities.
For further information:
For further information: Mary Powers, SVP Corporate Communication, (416)