The CRTC has approved an application by Pembina Acquisition Corp., a wholly owned subsidiary of Anthem Sports and Entertainment’s GameTV, to acquire Hollywood Suite and its four movie channels.
The transaction, originally announced by Anthem and Hollywood Suite in September 2024, is valued at $49.5 million, according to the CRTC’s decision published last week. As such, the CRTC requires Pembina/Anthem to allocate a total of $4.95 million in tangible benefits to various production funds and discretionary initiatives over seven consecutive broadcast years. In its application to the CRTC, Pembina had proposed a tangible benefits package representing 10 per cent of the value of the transaction.
Now owned by Pembina/Anthem, Hollywood Suite remains the licensee of the Hollywood Suite services, which include its 70s Movies, 80s Movies, 90s Movies and 2000s Movies channels. As licensee, it is still subject to the conditions of service set out in the services’ last broadcasting licence renewal in August 2023, the CRTC said in its decision. In addition, Hollywood Suite is required to adhere to the updated standard conditions of service for discretionary services in Broadcasting Regulatory Policy 2023-306.
