CAMPBELL RIVER, B.C – The Campbell River Television board of directors has called a special meeting for July 2nd to discuss details of an offer to purchase CRTV by Shaw Communications.
Details of the offer have not yet been made public but the 13,000 customer cable system could sell for over $20 million, given current cable valuations. The board said earlier this month it had had discussions with the big Calgary-based MSO.
“This is a critical meeting and members who wish to have input should appear in person or authorize a proxy for an immediate family member who shall be entitled to vote on behalf of the member,” says the letter to members.
In order to accommodate the greatest possible number of attendees, Arena #1 at Strathcona Gardens (225 S. Dogwood) has been booked for the event. This is the largest venue in town and measures are being taken to accommodate overflow if required, says the company.
“Even though the venue is large, members are reminded that this is a ‘members only’ meeting and only members in good standing will be allowed into the meeting. Families who are uncertain whose name the membership is in should contact the CRTV office prior to the meeting. While CRTV respects the importance of other household members, only the registered member will be allowed in. We simply have to reserve space for voting parties. The proceeds of the meeting will be filmed and aired on Community Cable 10 after the meeting wraps up,” reads the letter.
“The Board has a moral and legal responsibility to the membership of CRTV to consider all reasonable options that become available to the Association. When the Board has a full understanding of Shaw’s expression of interest in acquiring CRTV, the information will be provided to the members who will then be able to make the decisions that will determine CRTV’s future,” said CRTV president John Kerr.
CRTV is in a bit of a bind since Shaw has received CRTC permission to overbuild the Campbell River region, a move that would surely injure the small cable co-op.
