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Headline, Industry News
ZoomerMedia on TV with four-station deal
Tuesday June 16th 2009Moses Znaimer is getting back into TV with his company’s acquisition of four VisionTV channels for $25 million in cash and shares.
Znaimer created a small media empire after founding Citytv in the early ’70s, and since leaving that company has been building a new media empire catering to baby boomers (or “zoomers” as he calls them, baby boomers with zip) with assets in radio, online and print, most notably Zoomer magazine.
But now, pending shareholder and regulatory approval, Znaimer’s ZoomerMedia will take control of spiritual channel VisionTV, Joytv 10 in the Fraser Valley (Victoria and Vancouver), Joytv 11 in Winnipeg and category 1 specialty channel One: The Body, Mind and Spirit Channel.
ZoomerMedia was saying little about plans for the four stations after announcing the deal.
“Right now we are not making any pronouncements on programming,” said Leanne Wright, Zoomer’s vice-president of communications.
The deal still needs CRTC approval so until then it is status quo at the channels in terms of programming and staffing, she said.
The “multi-faith” VisionTV is a basic service in over nine million Canadian homes. It boasts a weekly audience of 1.6 million viewers each week, with many 45 and older. Both Joy stations were recently run as Omni station and were just bought by Vision last August, while the digital channel One offers programming focused on “exercise, meditation, yoga, natural health, and living a planet-friendly lifestyle.”
“It’s all about the demographic that watches VisionTV and the core audiences are overwhelmingly zoomers,” Wright said of how the stations will fit into the ZoomerMedia mix. “We like a lot of what is there and we definitely like their market.”
“In addition to being attractive businesses in their own right, we expect their complementary nature to Zoomer’s magazine and online/web holdings will further facilitate the expansion of the Zoomer concept,” said Znaimer in a release. “It also puts me back into TV, where I have a little experience, and a few ideas that should grow shareholder value.”
“The VisionTV group of channels deliver unique and original programming to the millions of Canadians interested in spirituality, wellness and personal growth,” said VisionTV chair Dale Godsoe, in a separate release. “We are excited by this opportunity to explore new strategies for developing and delivering interfaith and diversity-oriented content, and we look forward to re-inventing and re-energizing the VTV Charity for the 21st century.”
The acquisitions will be financed in part by a new $17.6 million investment in ZoomerMedia by Fairfax Financial Holdings Limited. Once the deal is done, Znaimer’s Olympus Management Limited will control 66% of ZoomerMedia while Fairfax will hold 28%.
Source: Marketing Magazine
Headline, Industry News
ZoomerMedia on TV with four-station deal
Tuesday June 16th 2009Moses Znaimer is getting back into TV with his company’s acquisition of four VisionTV channels for $25 million in cash and shares.
Znaimer created a small media empire after founding Citytv in the early ’70s, and since leaving that company has been building a new media empire catering to baby boomers (or “zoomers” as he calls them, baby boomers with zip) with assets in radio, online and print, most notably Zoomer magazine.
But now, pending shareholder and regulatory approval, Znaimer’s ZoomerMedia will take control of spiritual channel VisionTV, Joytv 10 in the Fraser Valley (Victoria and Vancouver), Joytv 11 in Winnipeg and category 1 specialty channel One: The Body, Mind and Spirit Channel.
ZoomerMedia was saying little about plans for the four stations after announcing the deal.
“Right now we are not making any pronouncements on programming,” said Leanne Wright, Zoomer’s vice-president of communications.
The deal still needs CRTC approval so until then it is status quo at the channels in terms of programming and staffing, she said.
The “multi-faith” VisionTV is a basic service in over nine million Canadian homes. It boasts a weekly audience of 1.6 million viewers each week, with many 45 and older. Both Joy stations were recently run as Omni station and were just bought by Vision last August, while the digital channel One offers programming focused on “exercise, meditation, yoga, natural health, and living a planet-friendly lifestyle.”
“It’s all about the demographic that watches VisionTV and the core audiences are overwhelmingly zoomers,” Wright said of how the stations will fit into the ZoomerMedia mix. “We like a lot of what is there and we definitely like their market.”
“In addition to being attractive businesses in their own right, we expect their complementary nature to Zoomer’s magazine and online/web holdings will further facilitate the expansion of the Zoomer concept,” said Znaimer in a release. “It also puts me back into TV, where I have a little experience, and a few ideas that should grow shareholder value.”
“The VisionTV group of channels deliver unique and original programming to the millions of Canadians interested in spirituality, wellness and personal growth,” said VisionTV chair Dale Godsoe, in a separate release. “We are excited by this opportunity to explore new strategies for developing and delivering interfaith and diversity-oriented content, and we look forward to re-inventing and re-energizing the VTV Charity for the 21st century.”
The acquisitions will be financed in part by a new $17.6 million investment in ZoomerMedia by Fairfax Financial Holdings Limited. Once the deal is done, Znaimer’s Olympus Management Limited will control 66% of ZoomerMedia while Fairfax will hold 28%.
Source: Marketing Magazine
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Headline, Industry News
ZoomerMedia on TV with four-station deal
Tuesday June 16th 2009Moses Znaimer is getting back into TV with his company’s acquisition of four VisionTV channels for $25 million in cash and shares.
Znaimer created a small media empire after founding Citytv in the early ’70s, and since leaving that company has been building a new media empire catering to baby boomers (or “zoomers” as he calls them, baby boomers with zip) with assets in radio, online and print, most notably Zoomer magazine.
But now, pending shareholder and regulatory approval, Znaimer’s ZoomerMedia will take control of spiritual channel VisionTV, Joytv 10 in the Fraser Valley (Victoria and Vancouver), Joytv 11 in Winnipeg and category 1 specialty channel One: The Body, Mind and Spirit Channel.
ZoomerMedia was saying little about plans for the four stations after announcing the deal.
“Right now we are not making any pronouncements on programming,” said Leanne Wright, Zoomer’s vice-president of communications.
The deal still needs CRTC approval so until then it is status quo at the channels in terms of programming and staffing, she said.
The “multi-faith” VisionTV is a basic service in over nine million Canadian homes. It boasts a weekly audience of 1.6 million viewers each week, with many 45 and older. Both Joy stations were recently run as Omni station and were just bought by Vision last August, while the digital channel One offers programming focused on “exercise, meditation, yoga, natural health, and living a planet-friendly lifestyle.”
“It’s all about the demographic that watches VisionTV and the core audiences are overwhelmingly zoomers,” Wright said of how the stations will fit into the ZoomerMedia mix. “We like a lot of what is there and we definitely like their market.”
“In addition to being attractive businesses in their own right, we expect their complementary nature to Zoomer’s magazine and online/web holdings will further facilitate the expansion of the Zoomer concept,” said Znaimer in a release. “It also puts me back into TV, where I have a little experience, and a few ideas that should grow shareholder value.”
“The VisionTV group of channels deliver unique and original programming to the millions of Canadians interested in spirituality, wellness and personal growth,” said VisionTV chair Dale Godsoe, in a separate release. “We are excited by this opportunity to explore new strategies for developing and delivering interfaith and diversity-oriented content, and we look forward to re-inventing and re-energizing the VTV Charity for the 21st century.”
The acquisitions will be financed in part by a new $17.6 million investment in ZoomerMedia by Fairfax Financial Holdings Limited. Once the deal is done, Znaimer’s Olympus Management Limited will control 66% of ZoomerMedia while Fairfax will hold 28%.
Source: Marketing Magazine
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