LABATT BUY APPROVED
By Adnews Staff
Labatt Communications Inc. now officially has new owners, and they have given the company a new name. The Canadian Radio-television and Telecommunications Commission has approved the purchase of Labatt Communications from John Labatt Ltd. The former Labatt division has been renamed NetStar Communications. NetStar owners include the Bronfman Family Trust, Reitman's (Canada) Ltd., the Caisse de dépot et placement du Québec and a subsidiary of ESPN Inc. of New York, which operates the ESPN sports specialty channel in the U.S. Foreign ownership limits on Canadian communications companies dictated the sale of Labatt Communications after the beer giant Interbrew SA of Belgium bought out John Labatt Ltd. for $2.7 billion last July. NetStar's holdings include the Discovery Channel, The Sports Network and Dome Productions.