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TORONTO — Canadian sports broadcaster Score Media has taken down its for sale sign.
John Levy, CEO and controlling shareholder of Toronto-based Score Media, said Monday that his CAN$283.5 million ($272 million) asking price for Canada’s third-largest sports channel was not met by interested parties before a weekend deadline for bids.
Levy said Score Media will now concentrate on growing its cable sports channel and accompanying new media platforms. “We’ll continue to grow, to expand the platforms, especially as (Score is) in the enviable position of making money,” he said.
New revenue streams at Score Media include Hardcore Sports Radio, a satellite radio network available across North America on Sirius Satellite Radio.
Score Media was first put in play in June when Levy failed to sell his majority stake in the broadcaster — 56% of special voting shares and 38% of nonvoting shares — to rival Alliance Atlantis Communications.
Alliance Atlantis subsequently was acquired by CanWest Global Communications, at which point Levy offered to sell control of Score Media to an outside buyer.
CanWest Global chose not to purchase a controlling stake in Score Media, but did up its minority stake to 26.5%.
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