Bell Globemeida to acquire Chum Ltd.

H

HDTVFanAtic

Thread Starter
SatelliteGuys Pro
May 23, 2005
1,973
0
In case you did not see it:

The Chum Ltd. radio and TV group agrees to be acquired by TV network operator and Globe & Mail owner Bell Globemedia for $1.4 billion (Canadian). A television union quickly vowed to challenge the deal on grounds of over-consolidation. Chum Ltd. owns 33 radio stations.


Edit - Hmmm..... spell check didnt work on the Topic....wierd.
 
damaged

damaged

SatelliteGuys Pro
Jun 22, 2005
2,605
1
South of Heaven
HDTVFanAtic said:
Edit - Hmmm..... spell check didnt work on the Topic....wierd.

If you mean 'Globemeida', it is because the checker (if it is one of the ones I'm thinking of) uses spaces as the word delimiter, checking each word against a dictionary file containing common words, I would imagine that the correct spelling of 'Globemedia' is not in that dictionary file, since it had nothing to compare it to, and there was no space between 'Globe' and 'Media', it had no choice but to treat it as a correct spelling, it is a flaw in that type of spell checker, advanced systems (Lingua, and other systems) use fuzzy logic which could handle things like this, as it can recognize things like compound words.

Err, sorry, it's the geek in me. :)
 
cablewithaview

cablewithaview

Stand against retrans!!!
Supporting Founder
Apr 18, 2005
398
0
DeKalb County, AL
CTV paying $1.7b for CHUM Ltd., 281 jobs to be cut

(I hope this doesn't mean the end to City TV.:( )

Canada's broadcasting industry is set to undergo a seismic shift, with the owner of CTV Inc. preparing to buy CHUM Ltd. in a $1.7-billion deal.

The friendly takeover offer was announced yesterday by Bell Globemedia, which in addition to the main CTV network also owns The Globe and Mail newspaper, local conventional television stations and national specialty television channels.

The deal coincided with the release of CHUM Ltd.'s latest financial results and its plans to cut 281 positions at television stations across the country -- part of an efficiency drive its management has been working on for months.

Although CHUM Ltd. remained profitable in its most recent quarter, albeit slightly less so than a year ago, the company maintains it faces tough market conditions for the rest of this year and in the longer term.

Critics of media concentration were quick to lament the loss of so many jobs and the impact the takeover would have on the diversity of news and information sources in Canada.

Jay Switzer, CHUM's chief executive officer, said that joining Bell Globemedia will provide financial strength in "what is a rapidly changing media landscape."

Switzer said the job cuts are part of an initiative to redeploy resources "to areas where we can win."

CHUM will increase local programming in certain areas, such as its Breakfast Television morning shows across the country, while reducing overhead in other parts of its news and information operations.

"We believe it's absolutely the right thing to do in terms of putting our resources where we can make a difference locally and it's where our advantage historically has been," Switzer told analysts in a conference call.

CHUM said it plans to cut 191 full-time and 90 part-time positions across the country in a complete reorganization of its television operations to "increase focus on service to local viewers."

Before trading was halted on the Toronto Stock Exchange ahead of the announcement, CHUM had a market valuation of $904.3 million, with the non-voting shares worth $31.25 each and the voting stock at $35.

Bell Globemedia, majority owned by BCE Inc., is offering a premium of about 50 per cent above the pre-announcement market prices for the shares.

"We are able to make this premium offer because Bell Globemedia is clearly the most logical buyer of CHUM," said BGM president and CEO Ivan Fecan. "There is a unique strategic fit to our operations that can make the united company a stronger national champion in broadcasting. We intend to maintain and build the valuable CHUM brands and develop more opportunities for Canadian programming."

Bell Globemedia also announced plans to divest some of the Alberta television stations it will acquire from CHUM, a move calculated to win the necessary approval of the Canadian Radio-television and Telecommunications Commission.

CHUM owns 33 radio stations and 12 local television stations headed by the Citytv channels in Toronto, Vancouver, Calgary, Edmonton and Winnipeg. It also has 21 specialty TV channels including MuchMusic, Space and Bravo, and runs the Muzak background-music operation in Canada.

http://www.hamiltonspectator.com/NA...0&call_pageid=1020420665036&col=1112101662835
 
Kryspy

Kryspy

SatelliteGuys Pro
Sep 11, 2003
248
0
Ontario, Canada
"(I hope this doesn't mean the end to City TV. )"

Yeah what on earth would I do without all that upconverted SD material they show on City-HD?

This take over falls in line with CTV failure to show anything in HD without that ugly logo overlaying the US one.

Kryspy
 
jegrant

jegrant

SatelliteGuys Pro
Aug 5, 2005
1,211
172
So MTV just left Canada after the CHUM group bought the company that owned the rights to "MTV Canada", brought the service back as a talk show channel with Bell (the new "MTV Canada"). And now Bell is buying CHUM? Interesting.

I wonder if this means they'll change at least one of the "music" licensed CHUM/MUCH video services to "MTV2 Canada" which will "actually show videos" :D . I vote for PunchMuch. They could even keep the same shows, just change the brand name.
 
Last edited:

Similar threads

P
Replies
3
Views
4K
mondoguitar
mondoguitar
buckspaul
Replies
0
Views
1K
buckspaul
buckspaul
B
Replies
1
Views
729
jaytee4320
jaytee4320
P
Replies
5
Views
2K
Frenchophile
Frenchophile
P
Replies
0
Views
852
poscher7
P

Users Who Are Viewing This Thread (Total: 0, Members: 0, Guests: 0)

Top