CTV SHINES LIKE A STAR AFTER CLOSING DEAL
By Adnews Staff
Toronto-based CTV Inc. has announced that it has closed in trust its purchase of a 68% controlling interest in NetStar Communications. There is no change in ESPN's 32% ownership position. NetStar is a holding company whose broadcast assets include The Sports Network, LeReseau des Sports, plus ownership in Discovery Channel Canada, Dome Productions Inc., Viewer's Choice Canada, NTN Canada and the St. Clair Group. The purchase price paid by CTV for the Netstar shares was approximately $409 million. The shares have been placed into a trust approval by the CRTC pending review of the transaction by that Commission and by the Competition Bureau. CTV Inc. owns Canada's national network CTV Television Inc. and offers a wide range of news, sports, information and entertainment programming.