CHUM acquires Craig Media, to expand into Western Canada.
From the Intertel section, comes word that the company which owns CityTV, CHUM Limited, is acquiring Craig Media Inc. for $265 million Canadian. The deal, subject to regulatory approval from the Canadian Radio-television and Telecommunications Commission, will mean that CHUM will now own the 3 A-Channel stations in Calgary, Alberta; Winnipeg, Manitoba and Edmonton, Alberta, as well as a CBC-affiliaite, CKX in Brandon, as well as Toronto 1, which was a competitor to CityTV's station in Toronto. The company also owns the MTV Canada, MTV2 Canada and TV Land Canada licences.
If this deal goes through, I imagine it will mean the A-Channel stations will get incorporated into the CityTV branding. CHUM have already indicated they will sell the Toronto1 station. CHUM were recently refused an application to create new stations in Alberta and Edmonton by the CRTC. Toronto1 has also been the subject of media talk, with doubts over its financial stability and its ability to survive in a fragmented TV market. The next few months will prove to be most interesting for CHUM and indeed for Canadian broadcasting in general.
