HEADLINE MEDIA PICKS UP ST. CLAIR GROUP
By Adnews Staff
Toronto-based Headline Media Group is acquiring 100% ownership of St. Clair Group Investments Inc., also of Toronto. St. Clair is a Canadian sports and entertainment marketing services and media company that controls the marketing rights to televised Canadian junior hockey, national and international curling, and other Canadian sports properties. The company also produces a number of sports and entertainment magazines and operates rinkboards in a collection of Canadian hockey arenas. Headline Media Group is a recently-formed company which operates primarily in the specialty television sector. St. Clair president J. Thomas Murray will take up a position as senior vice president and CEO of The Score Television Network Ltd., a wholly-owned subsidiary of HMG. HMG acquired 42.5% of St. Clair's shares from St. Clair itself for $1.1 million worth of debt, 42.5% from GTL Investments Corp. for $1.5 million in cash, and 15% from Cornerstone Strategic Holdings Inc. for 175,000 HMG shares. The deal is subject to the approval of the Toronto Stock Exchange, expected by mid-month.