Commission approves Delta Cable acquisition

GATINEAU – The CRTC has approved Persona Communications' acquisition of Delta Cable and Coast Cable from John Thomas and his family. Persona is financing the deal with a $90 million term loan from J.P. Morgan Securities. Since J.P. Morgan is non-Canadian, the Commission asked about the American company's potential influence over Persona. "Persona explained that while the credit agreement would contain covenants that are customary for debt financings allowing the lenders to monitor the performance and operation of the business, J.P. Morgan would not have any direct say on financial decisions or other business-related decisions. Persona further explained that J.P....