Len Cochrane Announces Teletoon Canada Exit
On the heels of Corus Entertainment securing regulatory approval to acquire the country's cable animation channel, the Canadian industry veteran is retiring.
TORONTO -- Teletoon Canada president Len Cochrane is to retire next month after Corus Entertainment on Friday secured CRTC approval to acquire a remaining 50 percent stake in the cartoon channel from Bell Media that it did not already own.
Cochrane on Monday said he will work with Corus Entertainment towards a "successful transition" as he departs at some point in the second half of January 2014.
A founding board member of Teletoon Canada, Cochrane has led the company since 2001.
That's before the CRTC on Friday okayed Corus picking up Astral Media's half-stake in Teletoon.
Bell Media, which acquired Astral Media earlier this year for CAN $3.4 billion (US $3.21 billion), was compelled to spin off the Teletoon stake as part of that wider takeover deal.
Corus also received regulatory approval to acquire the French-language cable channels Historia and Series+ from Bell Media.
Corus already owns other kids TV properties like YTV and Treehouse Television, and was ordered by the CRTC to ensure no more than a 10 percent programming overlap with those channels and Teletoon.