Competition Bureau okays CanWest Global takeover of Alliance Atlantis

TORONTO – The Competition Bureau has approved CanWest Global Communications Corp.’s proposed $2.3-billion takeover of Alliance Atlantis Communications Inc., the two broadcasters announced Monday. The deal still must get the greenlight from the CRTC. It also awaits a court decision by the Ontario Superior Court of Justice, which will hold a fairness hearing on May 18 to determine whether Alliance Atlantis requires the consent of the minority shareholders of Movie Distribution Income Fund (MDIF) before proceeding with its sale to CanWest Global Communications and Goldman Sachs. Under the proposed deal, CanWest will contribute $200 million to the takeover of Alliance...