CTVglobemedia Completes CHUM Acquisition

TORONTO, June 25: CTVglobemedia Inc. (CTVgm) has completed
its acquisition of CHUM Limited after having satisfied all of the conditions
for approval set out by the Canadian Radio-television and Telecommunications
Commission (CRTC).

All of the assets of CHUM Limited have now been released
from the Voting Trust Agreement with Mr. John D. McKellar, C.M., Q.C. with the
exception of the five Citytv stations, which will remain in trust pending
regulatory approval of their sale to Rogers Broadcasting. CHUM assets now part
of CTVgm include 34 radio stations, the A-Channel Network of six local
stations, CKX Brandon, and 19 specialty stations including MuchMusic, Bravo!,
Space, CP24 and CLT. As previously announced, CTVgm will proceed with the sale
to Astral Media of CHUM’s 50-percent interest in MusiquePlus and MusiMax.