Shaw Media buys out stakes in Mystery TV and The Cave specialties

Shaw Media will have 100% control of the specialty channels after the deal with its Quebec partner, pending CRTC approval.

Shaw Media has acquired from Quebec broadcaster TVA Group a 50% stake in the Mystery TV specialty channel and a 51% controlling interest in The Cave niche specialty that it does not already own.

Terms of the deals were not disclosed, but requests for a transfer of licenses for both channels were submitted to the CRTC last week.

Mystery TV airs suspense and crime dramas, while The Cave offers lifestyle and entertainment programming.

Pending regulatory approval of the ownership transfers, TVA Group, a subsidiary of Quebecor Media, expects the proposed transactions to be finalized in spring 2012.

From Playback Daily

Photo: LGE PR / Flickr Creative Commons