Canadian Media Group Offers to Buy Rival in Friendly Deal

CANADIAN MEDIA GROUP OFFER TO BUY RIVAL IN FRIENDLY DEAL
[SOURCE: New York Times]
Bell Globemedia, which already owns Canada’s largest private broadcaster and The Globe and Mail newspaper, offered Wednesday to purchase the rival media company Chum for 1.5 billion dollars. In 12 Canadian cities, Chum’s broadcast television stations compete directly with stations owned by, or affiliated with, Bell Globemedia’s CTV network. Between them, the two companies also control 31 specialty channels, including market leaders like TSN, an all-sports channel, and MuchMusic, Canada’s answer to MTV.
http://www.nytimes.com/2006/07/13/business/worldbusiness/13bell.html
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