BATON AND CHUM CONCLUDE SWAP
By Adnews Staff
Baton Broadcasting Corp. and CHUM Ltd., both of Toronto have concluded their deal to swap TV stations, giving Baton a 57.1% stake in the CTV Television Network. Under the agreement, Baton will swap four of its 15 Ontario TV stations for CHUM's Maritimes operations, the Atlantic Television Network, including the Atlantic Satellite Network. CHUM also received $10 million from Baton for its 14.28% interest in CTV. CHUM acquires CHRO-TV in Pembroke, CFPL-TV in London, CKNX-TV in Wingham and CHWI-TV in Wheatly, as well as Baton's rebroadcasting stations in Ontario. Baton acquires CTV-affiliated stations serving the Maritimes, CJCH-TV in Halifax, CJCB-TV in Sydney, CKCW-TV in Moncton and CKLT-TV in St. John and ASN serving the Atlantic provinces.