CBC sells channel to U.S. mogul: Cash-poor metwork to get $75-million in deal sending satellite-cable properties to Barry Diller's USA Networks

Article Abstract:

CBC and Power Corp. of Canada (Montreal) sold their two US based satellite-cable channels to media mogul Barry Diller's USA Networks Inc., in a $155-million deal. The CBC will get a cash of about $75-million from the sale of the two channels, Newsworld International (NWI) and TRIO in Northern American Television Inc., to USA Cable, a division of USA Networks. Nationalists criticized the deal as an another sellout by the CBC. Andre Desmarais, president and co-chief executive of Power Corp., defended the company from its US media beachhead. According to CBC president Robert Rabinovitch, the supply agreement will further extend the CBC's objective of brand into the USA and supply an ongoing revenue stream. However, Power and CBC decided to sell.

United States, Diversified Companies, Cable TV Networks, Barbados, Cable networks (Television), USA Networks Inc., USAI, Power Corporation of Canada, Caribbean Broadcasting Corp. (Barbados)

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CRTC told to block Videotron takeover

Article Abstract:

The proposed acquisition of Quebec-based Le Groupe Videotron Ltee by Montreal, Quebec-based Quebecor Inc. has been criticized by an association of journalists three unions of reporters. Critics of the proposed merger, which was the subject of a hearing by the Canadian Radio-television and Telecommunications Commission, believe it will give Quebecor to much power in the media industry.

Printing, Commercial Printing, Laws, regulations and rules, Mergers, acquisitions and divestments, Printing industry, Quebecor Inc., Canada. Canadian Radio-television and Telecommunications Commission, Le Groupe Videotron Ltee.

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Pro sports owners to fight CTV-NetStar deal

Article Abstract:

CTV Inc's proposed C$994-million buyout of two-thirds of Toronto, Ontario's NetStar Communications Inc is being opposed by professional sports players. Representatives for Major League Baseball and team owners in the National Basketball Assn and National Hockey League said that the deal if completed would eliminate competition and result in reduction of rights fees. CTV Inc also owns Canada's only other all-sports cable network Sportsnet.

NetStar Communications Inc.

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