Rogers snapping up CHUM's A-Channel group
4/9/2007 at 2:57 PM
http://ctv2.theglobeandmail.com/servlet/story/RTGAM.20070409.wrogers0409/business/Business/businessBN/ctv-business
Looks like Rogers just "snagged" CHUM's A-Channel stations, according to CTV.ca.
According to CTV:
"Rogers snags former CHUM channels
RICHARD BLACKWELL and ROMA LUCIW, Globe and Mail Update
Rogers Communications Inc. is buying several conventional and specialty television stations across the country from CTVglobemedia Inc. for $137.5-million, as CTV tries to appease regulators who will soon decide the fate of its proposed acquisition of CHUM Ltd.
When CTVglobemedia, then known as Bell Globemedia, bought CHUM Ltd. for $1.4-billion last July, it said it planned to sell its A-Channel stations, in part to allay regulator concerns about the number of TV outlets controlled in certain markets.
For Rogers, the deal gives it a series of new stations to add to its current contingent of four OMNI stations. Rogers current has two Omni stations in Toronto, as well as stations in Winnipeg and Vancouver.
In trading Monday morning on the Toronto Stock Exchange, Rogers Communications stock was 30 cents higher at $39.56 a share.
The A-Channel group includes broadcast television stations in Victoria, Windsor, Wingham, Ont., London, Barrie and Ottawa. It also includes CKX-Television, an over-the-air conventional CBC affiliate based in Brandon, Manitoba, educational broadcaster ACCESS Alberta, and specialty channels Canadian Learning Television and SexTV....."
Think this is good news for CKX? I think it is, as Rogers just picked up all of the small market stations from CHUM/CTV.