Rogers to Acquire CityTV Stations

June 12, 2007 World Screen

TORONTO, June 12: CTVglobemedia has accepted the Canadian
Radio-television and Telecommunications Commission’s (CRTC) ruling on its
proposed acquisition of CHUM Limited, offloading five Citytv stations to Rogers
Media for C$375 million in cash.

In approving CTVgm’s acquisition of CHUM, the Canadian
regulator stipulated that the Citytv stations could not be part of the deal. "We
are embracing this decision,” said Ivan Fecan, the president and CEO of
CTVglobemedia and the CEO of CTV Inc. “The people of CHUM Limited have been in
limbo for almost a year and it is in everyone's best interest to move forward
and build a stronger company from the combination of CTV and CHUM.”

CTVgm’s agreement with Rogers
replaces a previous deal between the two companies for a host of specialty TV
stations, including the A-Channels. Rogers will now take control of Citytv
stations in Toronto, Winnipeg, Edmonton, Calgary and Vancouver. Rael Merson,
the president of Rogers Broadcasting, said the deal would “significantly expand
our television operations and solidify our position as an important participant
in the Canadian television industry. It gives Rogers an instant and significant television presence
in the largest markets in the country and is a natural complement to our
existing television broadcasting and specialty assets. The combination of our
existing television properties with the Citytv stations gives us a formidable
national television platform that will continue our proud tradition of service
to local communities and our desire to contribute to the Canadian broadcasting
system."

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CTVgm will retain the
A-Channels and Access Alberta. The previously announced sale of CHUM's interest
in specialty stations MusiquePlus and MusiMax to Astral Media will also go
forward. CTVglobemedia will retain all other CHUM assets with the possible
exceptions of specialty channel Canadian Learning Television and CBC affiliate
CKX-TV, Brandon. CTVgm will announce its intentions for these stations in the
next few days.