TORONTO – The $375 million transaction to purchase the five Citytv conventional television stations by Rogers Media closed earlier today. it received CRTC approval last month.
The stations acquired from CTVglobemedia were under the control of Mr. John D. McKellar, C.M., Q.C., trustee under a voting trust agreement in respect of CHUM Limited. The Citytv network includes Citytv Toronto (CITY-TV), Citytv Winnipeg (CHMI-TV), Citytv Edmonton (CKEM-TV), Citytv Calgary (CKAL-TV) and Citytv Vancouver (CKVU-TV).
In light of this announcement, Rogers Broadcasting, a Rogers Media subsidiary, takes immediate control of the Citytv operations under the direction of Leslie Sole, CEO of Television for Rogers Media.
And within 12 to 18 months, the primary Toronto station will relocate from their home at 299 Queen St. W. to a recently purchased building at Dundas and Yonge in Toronto.
"We are extremely pleased that we were able to close this transaction on schedule, allowing us to now proceed with managing these stations and expanding our broadcasting operations in these major markets," said Sole, in a release.
