OTTAWA – In a decision released today, the CRTC approved three of the four changes requested by Shaw Media in its application to amend certain aspects of the tangible benefits package related to the transfer of control of Alliance Atlantis Broadcasting Inc.’s broadcasting companies.
The Commission approved Shaw’s proposals to reallocate the $14 million of the tangible benefits package devoted to news and public affairs so that it would spend $6 million on a current affairs show and $8 million on the expansion of international news bureaus. It also approved the reallocation of $2.4 million currently earmarked for pilot projects to support for on-screen scripted drama production.
Further, the Commission approved Shaw’s proposal to submit a written attestation from an officer of the corporation such as its vice-president of finance rather than audited statements with its benefits reports.
The Commission, however, denied Shaw’s proposal to calculate spending on the expansion of international news bureaus in U.S. rather than Canadian dollars. The decision cited the Commission’s concern that approving this proposal would reduce the absolute amount of benefits expenditures in Canadian dollars so that Shaw would not meet the requirement to spend 10% of the value of the transaction on tangible benefits.
When Shaw Media acquired Canwest in 2010 it assumed responsibility for paying what was then a $95 million tangible benefits package arising from Canwest’s earlier acquisition of Alliance Atlantis.
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