BATON REPORTS JUMP IN INCOME
By Adnews Staff
Toronto-based Baton Broadcasting Inc. has reported a net income of over $7 million for the third quarter ending May 31. This compares to just over $3 million for the same period last year. Net airtime revenue rose 19% to almost $70 million. Net income for the nine months ending May 31 was over $7 million, compared to almost $9 million during the same period in 1996. Next month, Baton will present its applications to the Canadian Radio-television and Telecommunications Commission to purchase the TV broadcasting and production assets of Electrohome Ltd., consisting of CFRN-TV Edmonton, Electrohome's investment in alliances with Baton in Saskatchewan, Alberta, and Southwestern Ontario, as well as Electrohome's 14.28% stake in CTV. In addition, Baton will present its applications for the exchange of the company's stations in London, Wingham, Windsor and Pembroke, all in Ontario, for CHUM Ltd. CTV-affiliates stations serving the Maritimes.