Bust the TVIt's not a good sign for the Canuckian media landscape when TV stations, once thought to be cash cows, are selling for $1. A DOLLAR! And a Canuckian dollar at that. That's what Shaw just paid CTV for stations in Windsor, Wingham and Brandon.
CTV head Ivan Fecan said the company has accepted the offer of $1 per station by Shaw (TSX:SJR.B), Canada's second-biggest cable TV operator.
"Cable is rolling in money and can obviously afford to underwrite the losses. Good for them," Ivan Fecan, president and CEO of CTVglobemedia and CEO of CTV, said in a statement. [MORE]
Good times. Come visit me in Guatemala!
Cheers!
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