BATON GETS GO-AHEAD TO TAKE OVER CTV
By Adnews Staff
The Canadian Radio-television and Telecommunications Commission came down in favour of Baton Broadcasting Inc. late last week, approving the merger of Baton and Electrohome Ltd., which gives Baton ownership of the Atlantic Television Network and the Atlantic Satellite Network, plus permission for Baton to take control of CTV Television Network Ltd. Electrohome gets 8.3 million shares in Baton and about $25 million in cash. For this, Baton buys Electrohome's share of existing agreements with Baton in Saskatchewan, Alberta, Ontario and Vancouver, as well as the television and production operations of CFRN-TV Edmonton and Electrohome's 14% equity interest in CTV.
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