Blue Ant Media has entered into an agreement to purchase the digital specialty channel bold from the Canadian Broadcast Corporation (“CBC”).
bold currently cites about 2.6 million subscribers across the country.
Blue Ant already owns specialty channels Travel+Escape, Bite TV and AUX TV, another recent acquisition, along with four commercial-free, high definition channels it purchased from High Fidelity HD, including Oasis HD, HIFI HD, eqhd and radX and their companion websites.
This latest transaction is conditional upon CRTC approval, and CBC’s various licensing, regulatory and statutory terms of operation.
“Acquiring bold will give Blue Ant another platform to engage audiences with unique entertainment content,” Michael MacMillan, CEO, Blue Ant Media, said in a statement. “We definitely see a lot of opportunity with the channel, while also expanding our array of channel offerings.”
“The decision to sell bold was very difficult, but we’re confident it will continue in good hands,” added Kirstine Stewart, Executive Vice-President, CBC English Services. “We’re excited to see bold continue to grow and evolve under the ownership of Blue Ant.”
Blue Ant Media's digital publishing division recently launched AUX Magazine, a monthly music tablet magazine. Blue Ant also has a minority interest in Cottage Life Media Inc., publishers of Cottage Life, Outdoor Canada and Canadian Home Workshop.
Capital Canada Limited, a Toronto-based boutique investment bank, acted as exclusive financial advisor to the CBC.
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