Rogers Media announced that the Canadian Radio-Television Commission has approved Rogers Broadcasting’s acquisition of five Citytv television stations from CTVglobemedia Inc.
The stations are currently under the control of CHUM Limited and include Citytv Toronto (CITY-TV), Citytv Winnipeg (CHMI-TV), Citytv Edmonton (CKEM-TV), Citytv Calgary (CKAL-TV) and Citytv Vancouver (CKVU-TV). The transaction is expected to close on October 31, 2007.
"We are delighted with the approval by the CRTC of our acquisition of the Citytv network. We are the successors to a proud tradition at Citytv and we will continue to nurture and develop one of Canada’s great brands in a way that builds on its intensely local, urban and diverse personality," said Rael Merson, President of Rogers Broadcasting Limited (RBL).
RBL also announced that Leslie A. Sole, Chief Executive Officer of Television for Rogers Media, will assume operational responsibility for the Citytv stations, upon completion of the acquisition. "The inimitable originality and creativity that Leslie brings will ensure that the Citytv stations prosper for the long-term," said Mr. Merson.
"This is a very exciting time for the television broadcasting group at Rogers. The addition of Citytv to our broadcast portfolio gives us the platform and scale for a fresh and innovative approach to reaching diverse audiences in some of Canada’s largest markets," said Leslie Sole. "The Citytv stations will complement our existing multicultural OMNI television stations in Ontario along with the impending launch of new OMNI stations in Calgary and Edmonton."
Rogers also recently applied to the CRTC for approval of its acquisition of the Vancouver/Victoria multicultural station Channel M.