Court approves sale of Look's spectrum, mobile license to Inukshuk

TORONTO and MONTREAL - The Ontario Superior Court of Justice has approved the sale of Look Communications’ spectrum and broadcast licence to Bell Canada and Rogers Communications, through their joint venture Inukshuk Wireless Partnership. Under the agreement, Inukshuk will pay Look $80 million in cash for its 92 MHz of spectrum, which is equivalent to coverage of approximately 1.8 billion MHz/Pops, and its mobile broadcast license which has been renewed by the CRTC through August 2011. As part of the agreement, Look and Bell Canada have also resolved all outstanding litigation, and Look's parent company Unique Broadband Systems settled its litigation with...