OTTAWA – Corus Entertainment has received CRTC approval to buy specialty channels Sex TV and Drive-In Classics from CTV for $40 million.
In its applications, Corus attributed a definitive value of $16 million to the assets for SexTV and a definitive value of $24 million to the assets for Drive-In Classic. It proposed, and received approval for, a tangible benefits package representing 10% ($4 million) of the value of the transaction to be paid over a seven-year period.
The two former CHUM category two specialty channels were transferred to CTVglobemedia back in 2007 when CTVgm acquired its broadcasting assets.
