TORONTO – Calling the deal "a wonderful opportunity for both companies," Bell Globemedia CEO Ivan Fecan was effusive in his praise for the Waters family and the assets the company he leads is acquiring.
"We were honoured to be approached by the Waters family to make an offer for their shares when they decided to sell controlling interest," Fecan said in a note to staff on Wednesday afternoon. "I believe they recognized the great respect we have for CHUM’s brands, their history and the people who built them. We believe that Bell Globemedia is the most logical buyer and best possible home for CHUM, assuming, of course, regulatory approvals."
Fecan’s note explained the deal a little and said of the A-Channels the company will sell off: "These are good stations and we will work hard to find them new owners, who will also need regulatory approval.
"The combination of CTV and Citytv will give Bell Globemedia the same number of over-the-air networks as our principal competitor in most markets," wrote Fecan.
"I have always believed that the value of media brands is in their uniqueness and diversity. So, naturally, we intend to maintain and strengthen the flavour and energy of CHUM’s brands. We will also keep the news divisions completely separate to ensure diverse voices and the journalistic competition that serves the public interest."
And once the deal is done, said Fecan, "the combined companies of Bell Globemedia and CHUM will, I believe, result in a stronger national champion for quality private broadcasting."
Bell Globemedia did not respond to Cartt.ca’s request for an interview.
