Corus Gets Approval for TELETOON Takeover

TORONTO: The Canadian Radio-television and Telecommunications Commission (CRTC) has cleared the way for Corus Entertainment's acquisition of the remaining 50-percent stake in TELETOON, as well as the channels Historia and Séries+.

With these acquisitions, Corus will own 100 percent of Historia, Séries+ and TELETOON Canada (which includes TELETOON, TÉLÉTOON, TELETOON Retro, TÉLÉTOON Rétro and Cartoon Network). In April 2013, Corus also consolidated its ownership of ABC Spark and divested its 20-percent interest in Food Network Canada.

Corus has established a Montreal-based management team led by Mario Cecchini, the president of Corus Média and head of Eastern Ontario, Radio and Television. In addition to the Quebec-based specialty services, Cecchini will also oversee Corus' eastern Ontario radio and local television stations.

"We are pleased with the CRTC's decision and excited about the future growth opportunities these acquisitions represent," said John Cassaday, the president and CEO. "Corus has established a track record for building and stewarding strong brands as well as delivering the best possible content to audiences everywhere."