Corus Entertainment Sells Comedy Network Interest to CTV

Corus Entertainment Inc. purchased Astral Media Inc.’s 14.95 per cent interest in The Comedy Network, a specialty television service, on October 11, 2001, increasing Corus’s interest to 29.9 per cent. The acquisition’s value is confidential. On December 19, 2001, Corus sold its 29.9 per cent interest in The Comedy Network to an affiliate of CTV Inc. for $36 million.

Warren Katz and Antonio Di Tullio of the Toronto office of Davies Ward Phillips & Vineberg LLP represented Corus. Astral was represented by Sidney Horn and Kathleen Wong of the Montreal office of Stikeman Elliott, and was assisted by Monique Ryan, vice-president, legal affairs. CTV was represented by Andre Serero, group vice-president, legal and corporate secretary of Bell Globemedia, and was assisted by Stephen Bloom of Goodmans LLP.