MONTREAL – Independent broadcaster Groupe V Média has brought on three new financial partners after finalizing its acquisition of French-language music stations MusiquePlus and MusiMax from Bell Media last week.
The company said Tuesday that the Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ and Investissement Québec will become shareholders in the company. Groupe V Média will still be controlled by Maxime Rémillard, who will remain as president and CEO.
“The arrival of partners in Groupe V Média’s capital stock is excellent news, because it provides the company with $30 million in additional capital to re-launch MusiquePlus and MusiMax and to expand Groupe V Média”, said Rémillard, in the announcement. “This acquisition fits perfectly within our growth plan, which aims to intensify our investment in high-quality multiplatform content.”
The five year old company, which already owns French-language entertainment channel V, said the new channels and financial partners will allow it to pursue its mission "to become Canada’s largest independent broadcaster by investing in high-quality, accessible and real-time content.”
