Blue Ant Media to buy High Fidelity HDTV
By Adnews Staff
Toronto-based Blue Ant Media has entered into an agreement to acquire broadcaster High Fidelity HDTV and its four high definition television channels: Oasis HD, EQHD, RadX and Hifi HD. The company will initially purchase 29.9% of the shares in High Fidelity, while purchase of the remaining 70.1% will be subject to CRTC approval of the deal. "We believe it's a great time to establish and grow a new kind of media company in Canada and our investments in High Fidelity and GlassBox provide a robust and complementary offering for audiences," said Michael MacMillan, CEO of Blue Ant Media. Blue Ant Media owns a controlling interest in GlassBox Television, which operates specialty channels Travel & Escape, Bite TV and Aux TV, as well as a minority interest in Quarto Communications, publisher of Cottage Life, Outdoor Canada, Explore and Canadian Home Workshop. In related news, Torstar has acquired a 25% ownership stake in Blue Ant Media. "Torstar Corporation sees the investment in Blue Ant Media as strategic, providing the opportunity to further diversify our Canadian media asset base," said Torstar CEO David Holland.