CORUS TO SELL SHARES IN COMEDY NETWORK TO CTV
By Adnews Staff
Toronto-based Corus Entertainment has signed an agreement to sell its 29.9% interest in The Comedy Network to CTV Inc. for CDN$36 million. The sale is expected to close by the end of January. John Cassady, president and chief executive officer of Corus, said the sale is consistent with the company's intention to reduce debt. Corus doubled its interest in the network in October when it acquired Montreal-based Astral Media's 14.95% stake in the network. The channel's other shareholders include Bell Globemedia, which owns CTV and holds a 65.1% interest in the network, and Les Film Rozon Inc., which holds the remaining 5%.
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