CALGARY – Stable growth at Shaw Communications’ cable and digital phone divisions helped to drive up its third quarter earnings by 20%, the company announced Wednesday.
Consolidated service revenue for the quarter ended May 31, 2010 and year-to-date periods of $944 million and $2.78 billion, respectively, was up 10% over each of the comparable periods last year. Total service operating income before amortization of $436 million and $1.34 billion, respectively, improved 10% and 17% over the same periods. Excluding a one-time CRTC Part II fee recovery, the year-to-date increase in service operating income before amortization was 10%.
Net income of $158…
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OTTAWA and TORONTO – CTV says that only “urgent regulatory relief” can help to keep its struggling stable of ‘A’ channels afloat.
In an application to the CRTC, CTV said that its six ‘A’ stations, which it acquired as part of its 2007 purchase of CHUM Ltd., “continue to lose tens of millions of dollars annually”, despite improved ratings and an investment of approximately $240 million in programming over the last three years.
In order to ensure that the stations “are in a position to continue to operate in the short term”, CTV has asked the Commission to extend “interim…
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CHICOUTIMI, QC – Another day, another radio station sale.
According to a report on infopresse, Corus Quebec has sold CKRS 98.3 FM in Saguenay to a consortium of local business people in the region, which includes Guy Carbonneau, a former captain and coach of the Montreal Canadiens.
Financial terms of the deal were not disclosed, and the transaction is subject to CRTC approval.
The station was excluded from the sale of many of Corus’ other Quebec radio stations to Cogeco, announced at the end of April.
www.corusent.com
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TORONTO and CALGARY – It’s been a busy week for Canada’s radio industry.
After buying up BOB-FM (CHST-FM) earlier this week, Rogers Broadcasting also acquired Edmonton’s BOUNCE (CHBN-FM) from CTV’s CHUM Radio and Milestone Media Broadcasting.
"Rogers has been active in the Edmonton radio market for four years and we’re keen to expand our local presence," said Rogers radio CEO Paul Ski, in the announcement. "The acquisition of BOUNCE will strengthen Rogers’ position in this important young adult demographic and will allow us the opportunity to offer a more enhanced service to both our listeners and our advertisers."
Hit music station…
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CALGARY – The Ontario Superior Court of Justice has approved the sale of CanWest’s TV assets to Shaw Communications.
However, the transaction remains subject to regulatory approvals from the CRTC and the Competition Bureau. Sources told Cartt.ca that the CRTC hearing on the deal has been tentatively scheduled for the week of September 20th.
Wednesday afternoon’s approval comes after a group of Canwest Global shareholders and the Asper family challenged the deal in court on Tuesday, calling the $2 billion sale “unfair”. The dissenting group will receive $11 million under a new version of the deal hammered out on Wednesday.
"This is an…
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MONTREAL – The federal government’s plan to increase foreign ownership in the telecommunications sector will not result in cheaper wireless service, and could serve to undermine plans for universal access, says Canada’s largest telecommunications union.
Dave Coles, president of the Communications, Energy and Paperworkers Union (CEP), said that CEP-commissioned research actually disputes claims that wireless services are more expensive in Canada than in other countries.
"Existing studies compare pricing in markets that have very different usage, that don’t have special plans with unlimited minutes, or free phones, for example, like we do in Canada," Coles said. "When taking all of that…
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TORONTO – Rogers Broadcasting has bought London, ON radio station BOB-FM (CHST-FM) from CTV’s CHUM Radio. Financial terms of the deal were not disclosed.
“We’re excited about operating in the city of London," said Rogers radio CEO Paul Ski, in Monday’s announcement. "Our stations always have a local focus and we’re eager to build upon the strong local lens that BOB-FM has on London."
The purchase is subject to CRTC approval. BOB-FM launched in 2000 in London and has “continually been a ratings leader in the market”, the announcement continued.
www.rogers.com
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OTTAWA – Given the recently launched public consultation of foreign ownership/investment in Canadian telecom carriers announced last week by Industry Minister Tony Clement, the report of the standing committee on industry, science and technology on that very topic, released late Wednesday, is more than a little anticlimactic.
The process was inspired by the situation that arose with Globalive Communications. It spent over $400 million on wireless spectrum in 2008 and was approved to operate as a Canadian wireless carrier by Industry Canada, but then denied by the CRTC in the fall of 2009 (which said due to the amount…
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IF EVERYONE PLAYS their expected part, Canadians may end up clamouring for the new SunTV News channel that its owner, Quebecor Media, envisions.
The launch strategy, it appears, is so far playing out brilliantly. After a couple of weeks of leaks (“It’ll be like Fox News, but in Canada!” “They’re going to spend $100 million!” “They’ve asked the CRTC for permission! “We’ve hired some reporters!”) which were linked and retweeted everywhere across the country – and especially in Ottawa – newspaper, TV and radio reporters, camera folks, online newsers (including yours truly) and bloggers crowded…
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OTTAWA – CTV’s ‘Save Local TV’ spots relating to the contentious fee-for-carriage issue did not violate any code provisions, the Canadian Broadcast Standards Council (CBSC) ruled Wednesday.
As Cartt.ca readers will no doubt recall, in the lead-up to the CRTC hearing on value-for-signal (or fee-for-carriage, as the Panels refer to it), Canadian conventional broadcasters launched a public awareness campaign entitled ‘Save Local TV’, while the BDUs (cable and satellite television companies), launched a corresponding campaign entitled ‘Stop the TV Tax’.
A consortium of BDUs complained to the CRTC that CTV-owned stations were using their programming to promote their view. The…
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