VICTORIA – On the final day of its temporary reprieve from closure, the employees of CHEK-TV got the answer they were hoping for: Canwest has accepted their offer to buy the station.
Station GM John Pollard confirmed to Cartt.ca that the deal was struck at approximately 2 PM local time on Friday afternoon.
“We’ve bought the station”, Pollard said in a phone interview. “We’ve signed off on all agreements and paid the money. It’s done.”
Pollard declined to name the purchase price, other than saying that it was “nominal”. The deal gives the employees a 20% stake in the station while a “local investment group” will hold the balance. The group will take ownership of the conventional television station’s assets immediately, though the official change of control and issuance of a new licence is conditional upon CRTC approval.
CHEK’s programming will remain status quo for the next week, including news at 5, 6 and 10 PM, but it will kick off new programming starting September 14.
“Our strength has always been in news and will continue to be in news”, Pollard continued. “If anything, this whole thing has just renewed our commitment to news”.
Canwest said in a statement that they will provide “transitional support services” and leased space in the CHEK station building at “favourable rates” to ensure a smooth transition and to facilitate the sale.
“This is a great thing for us, it’s a great thing for Canwest and for the Island”, Pollard added. “I can’t say enough about Canwest’s efforts to help us make this happen. They have absolutely bent over backwards. We have accomplished in five or six days what would normally have taken five or six months.”
Canwest president and CEO Leonard Asper echoed Pollard’s sentiments.
“Many dedicated individuals on both sides of the table came together and the result is that it has preserved jobs and service in the community,” Asper said in the statement. “One week ago, we thought that this station was going to close and today we have a result that is beneficial for all parties.”
CHEK-TV is a 53 year old conventional television station with about 45 employees serving Victoria and the Vancouver Island region. Former owner Canwest Global announced in July that it would close the station after failing to find a buyer.
