CHUM TO BUY CRAIG MEDIA
By Adnews Staff
Toronto-based Chum Limited has signed an agreement to acquire Calgary-based Craig Media for $265 million. The deal includes Craig's three A Channel television stations in Edmonton, Calgary and Winnipeg; CKX, a CBC-affiliate station in Brandon; the Toronto1 station in Toronto and the MTV, MTV2 and TV Land digital television channels. The deal remains subject to regulatory approvals. Chum owns and operates 30 radio stations, eight television stations and 18 specialty channels. According to the company, because it already owns Citytv Toronto and The New VR in Barrie it will, "commit to the divestiture of Toronto1."
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