ACS Media Completes IPO

ACS Media Income Fund, the indirect owner of ACS Media LLC, completed its initial public offering of 17.5 million trust units for gross proceeds of $175 million. The deal closed on May 8, 2003. The offering was underwritten by a syndicate led by CIBC World Markets Inc., and including RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc. and Westwind Partners Inc.

The issuer was represented by Torys LLP, with a team that included Phil Brown, Adam Armstrong and Stephanie Montgomery (securities) and Corrado Cardarelli and Ann Marie McGovern (tax) in Toronto, and Gary Gartner, Jeff Scheine and Pamela Petree (tax) and Brad Cost and Darien Leung (corporate) in New York.

The underwriters were represented by Goodmans LLP, with a team that included Allan Goodman, Justin Beber and Samantha Traub (securities) and Mitch Sherman and Jon Northup (tax). Bill Whitledge and Brett Goldberg of Goodwin Procter LLP in Boston were special U.S. tax counsel to the underwriters.