Bell Globemedia Tender Offer For CHUM Successful

BGM

BELL GLOBEMEDIA says that its tender offer to buy the outstanding shares of CANADA's radio/TV giant CHUM LTD. has been successful and that about 6.7 million shares- 99% of CHUM's issued and outstanding common stock- has been tendered, as have about 19.2 million non-voting class B shares and notices of guaranteed delivery for about 750,000 class B shares, about 93% of all class B shares. BGM has declared the offer to now be unconditional and will take up all of the shares; tha offer remains in effect for any remaining shares until SEPTEMBER 12, but enough shares have been acquired to allow BGM to get the rest as a compulsory acquisition under the Business COrporation Act (ONTARIO), which BGM says it will exercise after the voluntary offer expires, resulting in BGM taking CHUM private.

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