Competition Bureau Blocks Bell’s Acquisition of Corus Specialty Channels
According to a report by the Financial Post, the Commissioner of Competition has blocked the sale of Corus Entertainment’s French-language specialty channels Historia and Series+ to Bell Media.
The deal, which was announced in October last year, was valued at nearly CDN $200 million at the time it was made public. Corus says the two companies are currently reviewing the decision, and that it will provide further updates regarding the sale of its speciality channels in due course.
Corus owns specialty television services, radio stations and conventional television stations as well as other assets. In addition to Competition Act approval, the deal requires approval from the CRTC.
Corus Entertainment’s current portfolio of multimedia offerings encompasses 45 specialty television services, 39 radio stations, 15 conventional television stations and a global content business, among other assets and digital media services.