WIC president resigns, saying role changed after takeover battle

Article Abstract:

Vancouver, British Columbia-based, WIC Western International Communications Ltd.'s president, John Lacey, has relinquished his post in the broadcasting company. Lacey is expected to be replaced by Thomas Peddie, who served as president of CTV Television Network Ltd. The former president maintains that his departure was spurred by the significant modifications in his role in running the firm's operations following a change in ownership. WIC Western has sold a controlling 52% stake in the firm to Shaw Communications Inc. of Calgary, Alberta.

Comment:

Its president, John Lacey, relinquishes post in broadcasting company

Executive changes & profiles, British Columbia, WIC Western International Communications Ltd., Article

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NetStar shareholders accept CTV's takeover offer

Article Abstract:

NetStar Communications Inc's shareholders in Canadian have accepted the C$394-million bid for the company by CTV Inc, which offered to acquire 68% of NetStar on Feb 5, 1999. CTV initially offered a C$370-million bid for the stake but added C$20 million more when US specialty cabe operator ESPN Inc, who owns the remaining 32%, threatened to exercise its right to bring forward another bidder. The Canadian shareholders include Caisse de depot et placement du Quebec, Claridge Investments Inc, Reitmans (Canada) Ltd and the NetStar managers.

Canada, Asset sales & divestitures, Acquisitions & mergers, Cable Television Systems, Cable Networks, Cable television broadcasting industry, Cable television, NetStar Communications Inc.

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