CRTC wants to add new media, CTF, to benefits policy

GATINEAU – The CRTC this week called for comments on amending its benefits policy when it comes to transactions involving regulated media companies. Set out in 1989, the existing policy generally says 10% of the value of any business transaction involving television companies must be set aside for “benefits”, i.e. something the acquiring company might not normally spend on. So, if a broadcaster is purchased for $100 million, the rule of thumb has said that $10 million must go towards Canadian television production or other industry-related initiatives like internships, scholarships or local expression. “(T)he benefits policy stipulates that a percentage...