Bell Globemedia Succeeds in CHUM Takeover

TORONTO, September 1: Bell Globemedia (BGM) has succeeded in
taking control of about 99 percent of CHUM’s common voting stock and about 93
percent of non-voting shares, after announcing its $1.5 billion takeover offer
for the company in early July.

BGM has extended the tender offer for remaining CHUM
shareholders to 5 p.m. on September 12. All common shares taken up under the
offer will be placed in the hands of an independent trustee pending the
acquisition’s approval by the Canadian Radio-television and Telecommunications
Commission (CRTC).