Rogers Communications Inc. News
Rogers Media to Acquire Citytv Stations from CTVglobemedia Inc.
This agreement replaces a previously announced agreement pursuant to which CTVglobemedia Inc. had agreed to sell the A-Channel stations and certain specialty channels to Rogers Media.
Citytv
"The acquisition of the Citytv stations will significantly expand our television operations and solidify our position as an important participant in the Canadian television industry," said Rael Merson, President, Rogers Broadcasting. "It gives Rogers an instant and significant television presence in the largest markets in the country and is a natural complement to our existing television broadcasting and specialty assets. The combination of our existing television properties with the Citytv stations gives us a formidable national television platform that will continue our proud tradition of service to local communities and our desire to contribute to the Canadian broadcasting system."
"Rogers came in with a very strong offer on a pre-emptive basis, which will see the Citytv stations in a fine home in a timely manner. This outcome is good for both the businesses and the stations' employees," said Ivan Fecan, CTVglobemedia Inc. President and Chief Executive Officer and CEO of CTV Inc. "We know Rogers to be skilled operators of television assets and believe they will be good stewards of these important urban brands."
The all cash transaction is valued at approximately
TD Securities advised CTVgm on this transaction. About the Companies:
Rogers Media Inc., a division of Rogers Communications Inc., (TSX: RCI; NYSE: RG) operates Rogers Broadcasting and Rogers Publishing. Rogers Broadcasting has 51 AM and FM radio stations across
Rogers Communications Inc. (TSX: RCI; NYSE: RG) is a diversified Canadian communications and media company engaged in three primary lines of business. Rogers Wireless is Canada's largest wireless voice and data communications services provider and the country's only carrier operating on the world standard GSM technology platform. Rogers Cable and Telecom is Canada's largest cable television provider offering cable television, high-speed Internet access, residential telephony services, and video retailing, while its Rogers Business Solutions division is a national provider of voice communications services, data networking, and broadband Internet connectivity to small, medium and large businesses. Rogers Media is Canada's premier collection of category leading media assets with businesses in radio and television broadcasting, televised shopping, publishing and sports entertainment. For further information about the Rogers group of companies, please visit www.rogers.com.
CTVglobemedia Inc. is one of Canada's premier multi-media companies which owns CTV Inc. and The Globe and Mail. CTV Inc. operates 21 conventional television stations across
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This release includes forward-looking statements and assumptions concerning the future performance of our business, its operations and its financial performance and condition. These forward-looking statements include, but are not limited to, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. Statements containing expressions such as "could", "expect", "may", "anticipate", "assume", "believe", "intend", "estimate", "plan", "guidance", and similar expressions generally constitute forward-looking statements. Such forward-looking statements are based on current expectations and various factors and assumptions applied which we believe to be reasonable at the time. We caution that all forward-looking information is inherently uncertain and that actual results may differ materially from the assumptions, estimates or expectations reflected in the forward-looking information. Accordingly, we warn investors to exercise caution when considering any such forward-looking information herein and to not place undue reliance on such statements and assumptions. We are under no obligation (and we expressly disclaim any such obligation) to update or alter any forward-looking statements or assumptions whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Rogers Media Inc.
