REPORT: CRAIG MEDIA FOR SALE
By Adnews Staff
Calgary-based Craig Media is up for sale, according to a report in The Globe and Mail. RBC Dominion Securities has been hired to find buyers for some or all of the company, the report said. Eighty per cent of Craig is owned by brothers Drew, Boyd and Miles Craig. The remaining 19.9% is owned by U.S.-based Providence Equity Partners. Drew Craig, president and CEO of Craig Media, and Providence are reportedly hoping to get $400 million for the entire company. Interested parties are said to include Quebecor Media, Chum and Alliance Atlantis Communications. Craig's holdings include the television stations A-Channel Calgary, A-Channel Edmonton, Toronto 1 and digital channels MTV Canada, MTV2 and TV Land.
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