Canada Lands Corp. pulls plug on's CN Tower bid

TORONTO, March 24 /CNW/ - is disappointed to report that its plan to submit a $78 million bid to purchase the rights to rename and redesign Canada's National Tower will not come to fruition. Gordon McIvor, Vice President of Canada Lands Corporation, stated that C.L.C has "no intention right now of selling the tower - the bricks and mortar or the naming rights." spokesperson Peter Davies says that his executive committee will now shift their focus to another prominent Canadian landmark in order to further organizational initiatives. "It's unfortunate that our bid has been snubbed before it was even formally submitted," said Davies.

In response to the potential bid on the CN Tower, mayoral candidate Giorgio Mammoliti stated that, "Selling the naming rights of city owned buildings would allow the purchaser to oversee the publicity of our buildings, doing a better job of promoting them than the city ever could, and in the process it could potentially save the city millions."

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