Rogers Media to Acquire Vancouver's 'Channel M' From Multivan Broadcast Corporation |
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By: Rogers Media Inc. Posted: 2007-07-08 10:39:28 |
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Rogers Media and Multivan Broadcast Corporation ("Multivan") today announced an agreement under which Rogers Broadcasting, a Rogers Media subsidiary, will acquire Vancouver based multicultural television station Channel M.
The acquisition of Channel M significantly expands Rogers' ethnic television operations into the richly diverse lower Vancouver mainland and Vancouver Island markets, Canada's gateway to the Pacific Rim and home to three million residents. In just four short years Channel M has built a highly successful and award winning multicultural television offering in Vancouver and Victoria, broadcasting in 22 different languages and producing and airing hundreds of hours of original local programs each month. Expansion into these Greater Vancouver Area markets represents a natural extension to Rogers' proven and successful OMNI TV multicultural platform in Ontario and is further complemented by the multilingual and ethnic television station licenses in Calgary and Edmonton which Rogers was recently awarded. "Rogers has built its successful television business by serving community-focused and niche audiences," said Leslie Sole, CEO Television, Rogers Broadcasting. "The addition of Channel M to Rogers' ethnic broadcasting portfolio greatly enhances our position as Canada's premier multicultural broadcaster and furthers our objective of bringing a vision of diversity, respect and inclusiveness to the communities that Rogers serves. We pride ourselves in providing a primary bridge to first generation Canadians in the language of their origin and in relaying multicultural experiences at both a local level and now with the acquisition of Channel M, across other regions of the country." "We are proud of the success that Channel M has had in bringing our citizens in Vancouver and Victoria a comprehensive and meaningful multicultural television experience," said Art Reitmayer, President and Chief Executive Officer of Channel M. "Rogers is a highly respected Canadian media company with a terrific track record building media brands, and is an excellent fit to lead this channel forward. I know they will continue to grow Channel M and apply their significant expertise and commitment to TV broadcasting to ensure that Channel M will continue to thrive long into the future." This transaction is subject to Canadian Radio-television and Telecommunications Commission ("CRTC") approval and is expected to close at the end of 2007 or early in 2008. No further details of the transaction are currently available. About the Companies: Rogers Media Inc., a division of Rogers Communications Inc., (TSX: RCI; NYSE: RCI) operates Rogers Broadcasting and Rogers Publishing. Rogers Broadcasting has 51 AM and FM radio stations across Canada. Television properties include multicultural television broadcaster Rogers OMNI Television, which is a free over-the-air system consisting of four regional broadcasters; The Shopping Channel, a televised and electronic shopping service; Rogers SportsNet, Canada's live event and high-definition leader, and the management of two digital television services. Rogers Publishing produces many well-known consumer magazines such as Maclean's, Chatelaine, Flare, L'actualite and Canadian Business, and is the leading publisher of a number of industry, medical and financial publications. All media properties are integrated with their own popular web sites. Rogers Media also owns The Toronto Blue Jays Baseball Club and Rogers Centre, a year-round sports and entertainment facility. Rogers Communications Inc. (TSX: RCI; NYSE: RCI) 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 http://www.rogers.com. Channel M is an over-the-air television station broadcasting to three million Vancouver extended market viewers on cable channel 8, Express Vu channel 254 and on Vancouver Island/Sunshine Coast on cable channel 10. The locally-owned station features newscasts in Cantonese, Mandarin and Punjabi, as well as public affairs, lifestyles and entertainment programming in more than 20 different languages and 65 hours a week of top-rated English language programming. Caution Regarding Forward-Looking Statements: 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. |
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