TVA Group Sells Cable Channel Stakes to Shaw Media
The deals are the latest as Canadian broadcasters continue jockeying for position in the digital age.
TORONTO - In the latest sign of industry consolidation, Quebec broadcaster TVA Group has sold a 50% interest in the Mystery TV cable channel and a 51 percent stake in The Cave cable channel to rival Shaw Media.
Terms of the sales were not disclosed, but the deals hand Shaw Media half-interests in the two cable channels that it does not already own.
The Shaw Media acquisitions await regulatory approval.
TVA Group already has its hands full launching Sun News, a 24-hour conservative news cable channel that faces stiff competition from existing all-news services run by rivals CTV and CBC.
Earlier in the week, Blue Ant Media, the private investment vehicle for former Alliance Atlantis Communications topper Michael MacMillan, unveiled a deal to acquire High Fidelity HDTV, which operates four premium HD cable channels.
And Torstar Corp, the Canadian newspaper publisher, acquired a 25% stake in Blue Ant Media for $22.7 million.