CHUM said this morning it will be buying all the assets of Craig Media, pending CRTC approval. With this acquisition, Chum establishes itself in new markets, namely in Alberta and Manitoba and is on its way to becoming a national broadaster, a la CTV, CBC, and Canwest Global.
CHUM also said it would commit to selling Toronto1 because Chum already owns two TV stations — CITY-TV and CKVR — in the Toronto and southern Ontario market. Big news for Canada's broadcasting industry.
CHUM Limited signs agreement to purchase Craig Media Inc.
TORONTO, April 12 /CNW/ – CHUM Limited announced today that it has signed a definitive agreement to purchase all the shares of Craig Media Inc., which includes the three “A Channel” conventional television stations in Edmonton, Calgary and Winnipeg; CKX, a CBC-affiliate station in Brandon; the newly launched Toronto1 station in Toronto; and the MTV, MTV2 and TV Land digital specialty television channels . . .
It will be interesting to see what CHUM will put on the table in front of the CRTC to make sure the sale is approved…will it match up to what they were promising when they tried to get their own stations in Alberta. In addition, I will be interested in Global's reaction, expecially concering RDTV (CKRD) in Red Deer, as they will use it as the “cry foul” and “have pity on us.
Chad Vigen
Peace River Broadcasting
chad@news-junkie.com