TORONTO, Dec. 14 /CNW/ – Bell Globemedia Inc. (BGM) today announced the company’s name will change to CTVglobemedia Inc., effective January 1, 2007.
The name change is a result of a recent ownership restructuring which saw BCE Inc. reduce its holding in BGM to 15% from 68.5%. The remaining shares are held by The Woodbridge Company Limited at 40%, Ontario Teachers’ Pension Plan Board at 25% and Torstar Corporation at 20%.
TORONTO, Oct. 30 /CNW/ – CHUM Limited ("CHUM") announced today that at a special meeting of shareholders of CHUM held this morning, the amalgamation (the "Amalgamation") of CHUM with an indirect wholly-owned subsidiary of Bell Globemedia Inc. ("BGM") was approved. The amalgamation was completed shortly after the meeting.
BGM has completed a compulsory acquisition (the "Compulsory Acquisition")of all of the common shares ("Common Shares") of CHUM that were not tendered to BGM’s offer (the "Offer") to purchase all of the outstanding Common Shares and any and all of the outstanding non-voting Class B shares ("Class B Shares") of CHUM, which expired at 5:00 p.m. (Toronto time) on September 12, 2006.
As previously announced, all Common Shares acquired by BGM have been placed in the hands of an independent trustee pursuant to a voting trust agreement approved by the Canadian Radio-television and Telecommunications
Commission ("CRTC"). Pursuant to this voting trust agreement, such Common Shares will be voted by the trustee and control of CHUM will reside with the trustee pending consideration by the CRTC of BGM’s application for approval of its acquisition of control of CHUM.
As a result of the completion of the Compulsory Acquisition and the Amalgamation, BGM now owns all of the outstanding Common Shares and all of the outstanding Class B Shares.
The Common Shares have been de-listed from the Toronto Stock Exchange ("TSX") and the Class B Shares are expected to be de-listed from the TSX within three business days. CHUM intends to apply to the applicable securities regulatory authorities to cease to be a reporting issuer under the applicable securities legislation as soon as practicable.