Stations going for $1 each
The media co on Friday accepted an offer from Shaw to buy two stations in Ontario and one in Manitoba for a dollar a piece.
CTVglobemedia says it has has found a buyer for its troubled stations in Manitoba and Ontario, and stands to make three bucks in its deal with Calgary-based Shaw Communications. The network on Friday said it has accepted an offer from Shaw to buy its A stations in Windsor and Wingham, Ont., and CKX in Brandon, Man., for a buck a pop.
The network earlier this year said it would shut down all three stations unless a buyer emerged – pinning the blame on lack of cash, unfavorable regulation and changes in the over-the-air market. The network has used the stations, and the specter of further closures, to bolster its calls for fee for carriage during the recent Heritage committee hearings and its current license renewal hearings before the CRTC.
In announcing the deal, CTVgm boss Ivan Fecan did not miss the opportunity to repeat the argument that networks are strapped for cash, while cablers are flush.
‘Cable is rolling in money and can obviously afford to underwrite the losses. Good for them,’ he said in a statement, adding the apparent dig, ‘I’m sure they will live up to the existing conditions of licence placed on these stations.’
The deal marks an easterly move for Shaw, and a step up into over-the-air broadcasting. The company already runs several community cable channels in locations including Vancouver, Kenora, Sault Ste. Marie and Winnipeg. Shaw did not return calls for comment, though its offer was reportedly genuine. .