SHAW INCREASING STAKE IN YTV
By Adnews Staff
Shaw Communications of Calgary has signed an agreement that will make it a majority shareholder in YTV Canada. The cable company is buying Atlantis Communications' 28% share in the company, subject to regulatory approval. Shaw already owns 34%. Toronto-based Atlantis originally bought 40% in 1994. The two controlling shareholders, Rogers Broadcasting and CUC Broadcasting, both of Toronto, each bought 6% from Altantis later that year. Shaw then bought CUC. YTV is a Toronto-based youth-oriented specialty channel. Atlantis has an 80% stake in the Life Channel and has applied to the Canadian Radio-television and Telecommunications Commission for a licence to launch the Home and Garden Channel with partner E.W. Scripps Co. of Cincinnati.