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
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