CALGARY and TORONTO – The Ontario Superior Court of Justice today issued a order sanctioning the restated consolidated plan of compromise, arrangement and reorganization relating to Shaw Communications’ $2 billion purchase of Canwest Global Communications television assets.
Previously, Shaw announced that it had entered into agreements regarding the acquisition of 100% of the over-the-air and specialty television businesses of Canwest, including all of the equity interests in CW Investments Co., the Canwest subsidiary that owns a portfolio of specialty television channels.
"This is another important step forward with respect to the CMI Entities emerging from the Companies’ Creditors Arrangement Act…
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WINNIPEG – MTS said today it has begun to deploy its fibre optic network, dubbed "FiON", in the City of Selkirk, Man.
MTS has successfully started the transfer of telephone and Internet customers on to the new FO network and the company is on track to migrate 2,200 subscribers in Selkirk, about 45 minutes north of Winnipeg, to FiON by the end of the year.
"We are making good progress in the deployment of our new fibre to the home network in the City of Selkirk," said Kelvin Shepherd, President, MTS. "FiON will provide excellent support for our current…
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CARTT.CA’S UPDATED STORY on the Shaw/Canwest deal seeks to fill in “incomplete data” on Shaw’s proposed benefits package of $23 million for a transaction reported at $2 billion. That’s not a typo. We estimate that this comes to 1% of the value of the transaction. Since Commission policy dictates 10% for benefits it’s fair to ask: Are we missing $177 million? Let’s look at the numbers.
In their main application, Shaw ascribed a value of the transaction at $475 million. At that point, they were proposing a benefits of $23 million, which would be spent on the conversion to…
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GATINEAU – Thanks to the “certainly created in the industry by the new Canada Media fund and the need to give this fund time to establish itself,” the CRTC today called off its proceeding looking into amending its benefits policy.
Two years ago, the Commission decided it would examine the policy that says 10% of the value of any business transaction involving broadcast companies must be set aside for “benefits”, that is, 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…
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TORONTO – While its primary channel was a very popular destination for those wanting to watch some of the World Cup soccer games in Italian, for example, another arm of Telelatino was busily launching a pair of new specialties.
Released with little fanfare last month on Rogers Cable, the channels are EuroWorld Sport and Mediaset Italia (watch for the fanfare to come soon, however). Rogers also added TLN en Espanol to its line-up last month (which was already carried by Bell TV and Shaw).
“They are truly amazing channels,” said TLN president Aldo Di Felice.
EuroWorld Sport is a predominantly English language…
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OTTAWA – The CRTC will have the opportunity to bless the marriage of CanWest and Shaw at a hearing scheduled for September 20, 2010.
The $2 billion deal was approved by an Ontario court in June, but still requires approval by the Commission and the Competition Bureau.
The Regulator said Thursday that it will first consider an application by CanWest Global Communications for a multi-step corporate reorganization which would see its broadcasting and specialty channel assets fall under one entity.
Next up will be Shaw’s application to transfer the effective control of Canwest Global’s broadcasting entities to a wholly-owned Shaw…
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GATINEAU – After having been told by CRTC staff on Friday that the Regulator would not consider adding wireless to its look at regulatory symmetry in the telecom world when it comes to the handling of customer cancellations and transfers, Rogers Communications has again pushed the issue back into the lap of the Commission.
In a story on Cartt.ca last week, we told you Rogers wrote the Commission saying it didn’t make any sense to be looking into so-called regulatory symmetry for broadcasting, telecom and Internet while skipping wireless – and that the communications giant wants the notice of…
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TORONTO – Corus’ management team has undergone an extreme makeover, Cartt.ca has learned.
In a note to staff late last week, president and CEO John Cassaday said that the changes are intended “to streamline decision-making and clarify roles and mandates”. The company undertook an internal review after announcing a new management committee on May 10, 2010.
When asked for confirmation and clarification of the changes, a Corus spokesperson forwarded a short statement and declined further comment.
“Corus Entertainment recently implemented a number of structural changes to its Television, Radio and Corporate divisions”, the statement read. “As a result, some functions have…
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VANCOUVER – Gigi Boyd has been named VP of industrial relations in the BC office of the Canadian Media Production Association (in transition from the CFTPA).
A Gemini and Leo award winning producer/production manager, Boyd joins the CMPA-BC on July 19 after working extensively in the western film and television industry. Previously, Boyd was business affairs manager and director of the television unit at Telefilm Canada in the Western office, as well as a member of the executive board of the DGC-BC and vice-chair of the board of the Shaw Rocket Fund.
The BC Producers’ Branch of the CMPA represents the…
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THUNDER BAY, ON – Three additional projects in Ontario have been conditionally approved for funding under the ‘Broadband Canada: Connecting Rural Canadians’ program.
Friday’s announcement said that the projects will bring broadband to 4,000 additional households in the areas of Beaucage, Chisholm, Rutherglen, Nipissing, West Nipissing, Sundrige, Strong, Markstay, Warren, Estair, Wahnapitei, Skerryvore, Shawanaga, Bell Lake, Bonfield, McDougall, McMurrich, Armour, Cochrane District, Oliver-Paipoonge, Fort William, Neebing, and Township of Shuniah.
Galaxy Broadband Communications, Spectrum Telecom Group Ltd. / Blue Sky Economic Growth Corp. and TBay Tel / Northwestern Ontario Innovation Centre were named to share in the $5.5 million…
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