CRTC approves sale of ARTV stake

CBC will retain 60.66% voting interest in ARTV

TORONTO -- Canada's TV regulator on Friday approved a deal by broadcaster CTVglobemedia to sell a 15% stake in French-anguage arts channel ARTV to the rival Canadian Broadcasting Corp. for CAN$1.76 million ($1.73 million).

The green light from the Canadian Radio-television and Telecommunications Commission means that the CBC, Canada's public broadcaster, now retains a 60.66% voting interest in ARTV, leaving Tele-Quebec with a 24.34% stake and ARTE France with another 15% stake.