VANCOUVER and TORONTO – The CRTC has approved Wow Unlimited Networks’ proposed acquisition of specialty channel Comedy Gold from Bell Media for $6.67 million.
The Commission said that it has determined that the transaction is in the public interest, and noted its potential benefits to Canadian viewers and the broadcasting system by providing a wider variety of children's and youth content, along with an increase in production within the kids genre.
The Regulator also accepted the proposed the tangible benefits package of $687,000, representing 10% of the value of the transaction, though directed Wow Networks to file a revised proposal for the remaining 20% of its tangible benefits package by August 9 after denying its request to direct that amount to the Wow Shorts program initiative.
Upon surrender of the current licence issued to Bell Media, the Commission added that it will issue a new broadcasting licence for Comedy Gold to Wow Networks, which will expire on August 31, 2023.
Wow Networks said that it looks forward to closing the transaction “expeditiously.”
“WOW! Networks is excited to relaunch Comedy Gold as a newly created kids and youth channel that combines next gen innovation with an immersive multi-platform experience to bring young Canadians the content they love,” continues the statement.
