ROGERS TO ACQUIRE CTV'S STAKE IN SPORTSNET
By Adnews Staff
Rogers Broadcasting Ltd. is acquiring CTV's 40% interest in Sportsnet, Scott Colbran, the trustee responsible for the sale, announced on Friday. CTV's stake in the sports channel was put up for sale to Sportsnet shareholders including Rogers, Molson and Fox Sports Net Canada on June 25. Rogers, along with Molson and Fox Sports Net Canada, had ten days to accept the offer. Friday was the deadline. Rogers' purchase requires approval by the CRTC and the Competition Bureau. According to media reports, Rogers currently holds a 29.9% stake in Sportsnet, Molson a 10.1% interest and Fox a 20% interest.
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