Canadian Competition Bureau OKs Teletoon sale

The sale, as part of the complex Bell-Astral deal, makes Corus the sole owner of Teletoon and Cartoon Network Canada.
March 18, 2013

The complex, US$3.38-billion acquisition of Astral Media by Bell has taken another step forward.

On Monday, Corus Entertainment revealed that the the Competition Bureau gave its approval to a pair of side transactions related to the wide-rangingBell-Astral merger on Friday.

The bureau gave Corus the all-clear to acquire Astral’s 50% remaining interest in Teletoon and Cartoon Network Canada, as well as Shaw Media’s 50% interests in the French-language specialty channels Historia and Séries+, that Bell will acquire as part of the acquisition of Astral Media Inc.

The Teletoon transaction includes Teletoon, Télétoon (French), Teletoon Retro, Télétoon Rétro (French) and Cartoon Network Canada.

Once completed Corus will wholly own these properties.

The sales still require approval by Canadian broadcast regulator CRTC, Corus noted in a statement.

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