– MONTREAL – V Media Group is buying Frech-language music channels MusiquePlus and MusiMax from Bell Media, the companies announced Tuesday. Financial terms of the deal were not immediately disclosed, and the transaction is subject to approval by the CRTC and the Competition Bureau.
The move comes as part of Bell Media's requirement to divest of certain properties to comply with regulatory conditions attached to its acquisition of Astral Media last July. After selling off Family, Disney XD and Disney Junior last week, Bell Media has now entered into agreements with buyers for all of the properties it was required to divest. http://www.cartt.ca/article/dhx-media-buys-family-disney-xd-and-disney-junior-170m
"A little over 5 years ago, we took on the challenge of reviving a television channel, V, and have successfully built a dynamic and effective television network," said V Media Group president and CEO Maxime Remillard, in the announcement. "Today, we are proud to acquire MusiquePlus and MusiMax, reinforcing our commitment to become the independent Canadian leader in the production and broadcasting of multiplatform entertainment content."
"MusiquePlus and MusiMax are an invaluable part of Québec's television landscape, and I am extremely pleased that they are being acquired by V Media Group, a young media player whose dynamism is a perfect fit for the boldness and energy of MusiquePlus and MusiMax," added Kevin Crull, president of Bell Media.
