MTV Canada and MTV2 to be rebranded in June
By Adnews Staff
Specialty television channels MTV Canada and MTV2 will be rebranded on June 30. MTV Networks International of New York has decided to terminate its licensing agreement with Craig Media, which had been operating these channels until its purchase by Toronto-based CHUM Limited in December. The original agreement gave MTV Networks the right to end the deal upon such a change of corporate control. CHUM will pay MTV approximately $10 million to cover the remaining the licence fees. MTV will give up the option to acquire an equity interest in the channels. New names for the channels and titles for their programs are not expected to be released for several weeks. Meanwhile, MTV has released a statement saying, "MTV Networks International remains committed to Canadian audiences and will continue our strong presence in the market via broadcast television distribution and digital media activities." The company also expects to provide more details in several weeks.