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maandag 26 december 2011

TVA Group Sells Cable Channel Stakes to Shaw Media

TVA Group Sells Cable Channel Stakes to Shaw Media

The deals are the latest as Canadian broadcasters continue jockeying for position in the digital age.

In the latest sign of industry consolidation, Quebec broadcaster TVA Group has sold a 50% interest in the Mystery TV cable channel and a 51 percent stake in The Cave cable channel to rival Shaw Media.

Terms of the sales were not disclosed, but the deals hand Shaw Media half-interests in the two cable channels that it does not already own.

The Shaw Media acquisitions await regulatory approval.

TVA Group already has its hands full launching Sun News, a 24-hour conservative news cable channel that faces stiff competition from existing all-news services run by rivals CTV and CBC.

Earlier in the week, Blue Ant Media, the private investment vehicle for former Alliance Atlantis Communications topper Michael MacMillan, unveiled a deal to acquire High Fidelity HDTV, which operates four premium HD cable channels.

And Torstar Corp, the Canadian newspaper publisher, acquired a 25% stake in Blue Ant Media for $22.7 million.