Corus Entertainment Inc. completed its acquisition of the remaining 70.1 per cent interest in Montreal media broadcaster Metromedia for approximately $125 million on February 28, 2001. Corus previously acquired 29.9 per cent of Metromedia in August 2000 for approximately $40 million. This acquisition makes Corus one of Quebec’s leading broadcasters, with ownership of 12 radio stations in that province.
Davies Ward Phillips & Vineberg LLP acted for Corus with a team that included Warren Katz (corporate), Philippe Rousseau (corporate) and Brian Facey (competition). Metromedia was represented by McCarthy Tétrault with a team that included Thomas (Tam) Davis (corporate), Raphaëlle Lapierre (corporate) and Claude Desaulniers (tax).