CTVglobemedia sells stake in Maple Leaf Sports and Entertainment
By Adnews Staff
Teachers' Private Capital, the private investment department of the Ontario Teachers' Pension Plan, has formed an agreement to purchase CTVglobemedia's 7.7% stake in Maple Leaf Sports and Entertainment. This will give the pension plan a total stake in Maple Leaf of 66%. "The time is right for us to exit and redeploy the proceeds from this sale to pay down debt," said Ivan Fecan, president and CEO of CTVglobemedia. The deal is subject to league approvals. No financial details are available.