TORONTO – CTV has sold CKX-TV Brandon to Canadian investment firm Bluepoint Investment Corporation for one dollar.
Bluepoint assumes all of CKX-TV’s broadcast assets, liabilities and commitments with the purchase, including the station’s 39 employees, the announcement read.
"This is good news for the employees that work at CKX-TV Brandon and the surrounding communities who depend everyday on the local programming that the station provides," said Paul Sparkes, CTVglobemedia’s EVP of corporate affairs, in the announcement. "Being an independent operator, Bluepoint will be able to access the Small Market Local Programming Fund. This is something that neither CTV nor Canwest have been able to draw from – unlike Shaw, for instance, which receives a subsidy from the Fund for its Kenora television station."
As Cartt.ca readers will recall, Shaw had offered to purchase CKX Brandon, a CBC affiliate, in addition to ‘A’ Channels in Wingham and Windsor, ON from CTV for one dollar each back in April. Shaw pulled out of that agreement last month, and CTV has since announced that it will keep the Windsor station open for at least another year, and apply to convert the Wingham channel to a full re-broadcast of the ‘A’ Channel London signal.
Bluepoint is headed by Bruce Claassen, an individual “well recognized for his contribution to the Canadian media industry”, the announcement continued. He is also the CEO of Toronto-based media management company Genesis Vizeum.
"We are delighted to announce our acquisition of the Brandon station, the first part of our strategic plan to become a significant media player in North America,” said Bluepoint CEO said Colin Berrie, in the announcement. “We believe that with the CRTC’s recent announcement regarding the Local Programming Improvement Fund (LPIF), the potential is very good in small-market television."
It is anticipated that the deal will close on or before December 31, 2009, pending CRTC approval.
