CAMPBELL RIVER, B.C. – The Campbell River Television board of directors said today that its members have spoken and they want to sell the cable co-operative to Shaw Communications.
The board has the preliminary results from the August 23, 2008 special meeting and “members who exercised their right to vote were in overwhelming support” of selling CRTV to the big western cableco, said the release. As a co-op, 75% of members must vote in favour of a change in ownership.
“At this point in time, the process of handing CRTV over to Shaw becomes a housekeeping issue,” says the release.
Shaw offered $46 million for the 13,000-customer cable system on Vancouver Island but during the voting this summer, some members and employees caused delay in the hopes of altering or quashing the deal.
If there are no delays, Shaw should take over operations before the end of 2008, says the CRTV release, and the members should receive their distribution of proceeds by late spring of 2009.
