Alliance Atlantis takeover complete
EmptyTORONTO -- Canadian broadcaster CanWest Global Communications and equity partner Goldman Sachs & Co. on Wednesday completed their CAN$2.3 billion ($1.99 billion) takeover of Alliance Atlantis Communications.
The deal was sealed late in the afternoon, with Goldman Sachs taking possession of Alliance Atlantis' 50% stake in the "CSI" TV franchise along with a 51% stake in indie Canadian movie producer Motion Picture Distribution LLP.
In addition, Alliance Atlantis' 13 cable channels will now be combined with CanWest Global's Global Television Network to create a new broadcast entity. CanWest Global executives are expected to reveal their strategy for the cable channels in the coming days.
Separately, Goldman Sachs completed another deal to acquire Movie Distribution Income Fund, which has a 49% stake in Motion Picture Distribution LP.