OTTAWA – The CRTC has approved the sale of GameTV from Anthem Sports and Entertainment to Remuda Media Inc. for $6.5 million.
Remuda Media is jointly owned and controlled by Dean Langille, John Philips, 2078677 Alberta Ltd. (William Sawchyn) and 2225926 Ontario Ltd. (Bryan Woodruff), with each holding 25% of the shares.
According a CRTC letter to Anthem subsidiary Game TV Corp earlier this month, the transaction is valued at $6,500,000 for the purchase price and $25,291 for the net working capital that will be transferred at closing. The tangible benefits package of 10% of the transaction will be payable to the Canada Media Fund, the Rogers Documentary Fund and Shaw Rocket Fund over seven years.
The Commission also directed Game TV Corp, the licensee of GameTV, to pay the remaining tangible benefits of $384,767 from when the channel was sold to Anthem in 2016.
