CTV sells TV station for $1

Bluepoint Investment Corp. to acquire CKX-TV

TORONTO -- Canadian broadcaster CTVglobemedia has sold another TV station for $1, this time in Brandon, Manitoba, to Bluepoint Investment Corp.

Bluepoint will take on all of CKX-TV's broadcast assets and liabilities, including 39 employees, and is expected to close the deal by Dec. 31, pending regulatory approval.

CKX-TV was previously part of an earlier deal by Shaw Communications to buy three local TV stations from CTVglobemedia for a buck apiece (HR, April 30).

Shaw eventually walked away from that deal (HR, July 2).

Elsewhere, Canwest Global Communications Corp. sold two E!-branded TV stations in Hamilton and Montreal to cable broadcaster Channel Zero, and has three remaining stations in Alberta and British Columbia set to be closed if buyers are not found by the end of the summer.

Canadian local TV stations have been selling at fire-sale prices during the recession as broadcasters deal with a TV ad slump and a digital transition.