ALLIANCE MAKING HEADLINES WITH ANNOUNCEMENT
By Adnews Staff
Toronto-based Alliance Atlantis Communication Inc. has reached an agreement to acquire a 47.85% interest in Sportscope Television Network Ltd., which operates the Headline Sports specialty channel. The transaction is still subject to approval by the Canadian Radio and Television Telecommunication Council. The purchase price for the shares is $16.2 million. Headline Sports is a 24-hour sports network featuring updated sports highlights, news and information in a 15-minute wheel format. Headline Sports will join Alliance's four existing specialty channels, Showcase Television, History Television, Life Network and HGTV Canada. If the deal is approved, Alliance will join Sportscope's other two shareholders, Digimation, which owns 4.3% share of Sportcope, and John Levy, who holds the remaining 47.85% share.