Sale of CHUM Limited To Bell Globemedia
In 2006, following the death of longtime chairman Allan Waters, CHUM Limited decided to shut down operations and sell its broadcasting assets to a willing bidder. Bell Globemedia (now CTVglobemedia) announced a $1.7 billion takeover offer in July of that year.
Bell Globemedia initially intended to retain CHUM's popular Citytv-branded stations and its numerous specialty channels, selling off the smaller-market A-Channel stations along with several specialty channels to a willing bidder. Rogers Communications originally bid on the A-Channel stations; Brandon, Manitoba's CKX-TV; Alberta educational station Access; SexTV; and Canadian Learning Television. However, CTV's plans were denied by the Canadian Radio-television and Telecommunications Commission (CRTC), as all five Citytv stations are based in markets where CTV already has owned-and-operated (O&O) stations, and so CTV's retention of Citytv would have exceeded the CRTC's concentration of media ownership limits. CTV was, however, allowed to retain control of the A-Channel stations and all of CHUM's specialty channels.
Soon afterwards, Rogers placed a new bid to purchase the Citytv system as a complement to its own Omni Television, a system of multicultural-themed stations.
Read more about this topic: 2007 Canada Broadcast TV Realignment
Famous quotes containing the words sale of, sale, limited and/or bell:
“I hate this shallow Americanism which hopes to get rich by credit, to get knowledge by raps on midnight tables, to learn the economy of the mind by phrenology, or skill without study, or mastery without apprenticeship, or the sale of goods through pretending that they sell, or power through making believe you are powerful, or through a packed jury or caucus, bribery and “repeating” votes, or wealth by fraud.”
—Ralph Waldo Emerson (1803–1882)
“[T]he dignity of parliament it seems can brook no opposition to it’s power. Strange that a set of men who have made sale of their virtue to the minister should yet talk of retaining dignity!”
—Thomas Jefferson (1743–1826)
“The limitless future of childhood shrinks to realistic proportions, to one of limited chances and goals; but, by the same token, the mastery of time and space and the conquest of helplessness afford a hitherto unknown promise of self- realization. This is the human condition of adolescence.”
—Peter Blos (20th century)
“In 1862 the congregation of the church forwarded the church bell to General Beauregard to be melted into cannon, “hoping that its gentle tones, that have so often called us to the House of God, may be transmuted into war’s resounding rhyme to repel the ruthless invader from the beautiful land God, in his goodness, has given us.””
—Federal Writers’ Project Of The Wor, U.S. public relief program (1935-1943)