Canada's Bell Globemedia to Buy CHUM

14 July 2006

TORONTO - In a 'friendly' takeover deal announced Wednesday, the board of CHUM Television accepted a C$1.4 billion ($1.23bn; €970.5m; £672.1m) offer from Bell Globemedia.

In addition to its main CTV network, the latter also owns The Globe and Mail newspaper, local conventional television stations and national specialty TV channels. CHUM operates twelve local independent television stations and 21 branded specialty channels.

A combination of CHUM with Bell Globemedia would face the scrutiny of the Canadian Radio-Television and Telecommunications Commission.