CTV-CHUM Deal Closer After Second Day Of CRTC Hearing
May 2, 2007 at 5:45 AM (PT)
After a second day of hearings TUESDAY (5/1) about the CTVGLOBEMEDIA-CHUM LTD. deal, the companies might be breathing easier, as CRTC Chairman KONRAD VON FINCKELSTEIN said that the Commission is "not in the business of killing deals" and Commissioner STUART LANGFORD said that "the deal is done" and indicated that the CRTC's next step is to discuss "conditions we can put on [the deal]."
The hearing returned to the topic of CTV's proposed retention of the CITY-TV stations in TORONTO, VANCOUVER, EDMONTON, CALGARY, and WINNIPEG and the possibility, championed by rival CBC VP RICHARD STURSBURG in his testimony, that CTV be ordered to spin off those stations in order to retain the CTV affiliates in the markets rather than be allowed to have TV duopolies there.
CTV is paying C$1.4 billion to buy CHUM's radio and TV stations and cable interests and is spinning off the A-CHANNEL TV stations in ONTARIO and VICTORIA, BC to ROGERS.