TORONTO – Corus Entertainment said Monday that it officially closed its acquisition of Historia, Séries+ and the remaining 50% of Teletoon Canada Inc. on January 1, 2014.
After receiving the CRTC’s blessing on the deal late last month, Corus now owns 100% of Historia, Séries+ and Teletoon Canada (which includes Teletoon, Télétoon, Teletoon Retro, Télétoon Rétro and Cartoon Network). Last April, Corus also consolidated its ownership of ABC Spark and divested its 20% interest in Food Network Canada to corporate cousin Shaw Communications.
Corus said that the net cash consideration for these assets is $481 million Cdn. and was paid for with cash on hand and existing bank lines of credit.
"This is an important milestone for the company as we integrate these new television services into the Corus portfolio," said president and CEO John Cassaday, in a statement. "We are excited about the future growth opportunities and look forward to delivering great programming to audiences across multiple platforms."
