Rogers buys OLN
A pending deal for the sporty outdoor channel was unveiled just as time ran out on a separate would-be deal for The Score.
Rogers Media announced last Friday it is buying the Outdoor Life Network from its partners CTVglobemedia and Versus, taking the one-third share owned by each in the cable channel. The deal is expected to close in the first quarter of 2008, according to a statement issued by the Toronto media conglom, and is subject to CRTC approval.
Financial details of the separate agreements with CTVgm and Versus, a US-based cable and satellite sportscaster, were not revealed.
The deal arrives just as the deadline on another has passed, with Score Media pulling The Score off the block after a fruitless six-month search for a buyer. Controlling shareholder Score Media and its CEO John Levy had reportedly put a $283.5-million price tag on the sports channel, but time on a possible deal ran out on Saturday despite interest from a number of bidders.
From Playback Daily