Canada's Standard Considers Reviving Spinoff And IPO
October 2, 2006 at 5:58 AM (PT)
Canadian broadcaster STANDARD BROADCASTING CORP. isn't for sale but is close to a decision on reviving the initial public offering it put on the back burner in JUNE, reports the FINANCIAL POST.
CEO GARY SLAIGHT told the paper that STANDARD is "not selling the company" but that it is "re-evaluating the income trust" and plans to make a decision in the next few days. The company received regulatory approval FRIDAY (9/29) for spinning off the company's 51 radio stations into an income trust and is considering reviving the plan due to improvement in the radio industry's revenue picture and the recent sale of rival CHUM LTD. to BELL GLOBEMEDIA.