CHUM ACQUIRES CKVU, CTV ACQUIRES CKY
By Adnews Staff
Toronto-based Chum Limited has entered into an agreement to acquire the Vancouver station CKVU for $125 million. The sale of the CanWest Global Communications station was required by the Canadian Radio-television and Telecommunication Commission as part of CanWest's acquisition of eight television stations from Western International Communications Inc. CanWest already owns BCTV and CHEK-TV, which operate in Victoria. Chum owns and operates 27 radio stations, seven local television stations and 12 specialty stations. Beginning this fall, CKVU will join Chum's group of stations. Also, Toronto-based CTV has entered into an agreement to acquire Manitoba station CKY-TV from Moffat Communications Limited for $47 million. The acquisition gives CTV its first network-owned station in the province. CKY consists of CKY-TV Winnipeg, CKYB-TV Brandon, CKYD-TV Dauphin/Baldy Mountain, CKYA-TV Fisher Branch, CKYF-TV Flin Flon, CKYB-TV1 McCreary, CKYS-TV Snow Lake, CKYP-TV The Pas and CKYF-TV Thompson. Both acquisitions are subject to the approval of the CRTC.