The CRTC has okayed the sale of SexTV and Drive-In Classics to Corus, passing the cable channels to new owners just two years after CTVgm claimed them in its buy-up of CHUM.

The deal, valued by the regulator at $40 million, will see $4 million earmarked for new programming and other good causes across the industry, in keeping with the standard policy on the sale of TV outlets.

Corus will put $2.7 million into new programming from independent Canadian producers, including long-form documentaries, educational shows, drama, comedy and variety. Cheques will also be written for the CFC, the Banff World Television Festival, Concerned Children’s Advertisers and other groups.

The deal met little resistance, though the CRTC did comment on the short turnaround following CTVgm’s purchase of the channels in 2007. Though ‘satisfied’ by the particulars of the Corus deal, the Commission noted its concern when outlets are sold and then quickly sold again.

From Playback Daily