Shaw cancels purchase of 3 CTV stations
Canadian television giant CTV Inc. said yesterday that Shaw Communications Inc. will not proceed with the purchase of three over-the-air TV stations for $1 each.
CTV accepted an offer in April by Shaw CEO Jim Shaw to buy the stations in Brandon, Man., and Wingham and Windsor, Ont.
The purchase came after CTV and other conventional broadcasters asked the Canadian Radio-telephone and Telecommunications Commission to let them charge cable companies for the right to carry their signals, something known as fee for carriage payday loans no credit check.
They told the regulator they have been hurt by the recession and the popularity of specialty cable channels, and that a carriage fee would pump up to $300 million in additional money into the broadcast industry.
Shaw had been sharply critical of the idea, and said it could make the stations profitable. Shaw officials weren’t available for comment.
The Canadian Press