Astral Media Inc. and Corus Ent. Inc. announced today (July 13, 2006) they would acquire the remaining 20% of the TELETOON network from the shareholders of The Cookie Jar Group.
Subject to the approval of the Canadian Radio-television and Telecommunications Commission (CRTC), this transaction will give Astral Media and Corus Ent. each an additional 10% ownership of TELETOON, bringing their individual ownership to 50% each. The price for this acquisition is approximately CDN $96 million.
The very successful TELETOON television network is Canada's first and only 24-hour animation network with programming for audiences of all ages. With English- and French- language services, the network offers viewers classic cartoons and new animation from Canada and around the world. Since its launch in 1997, TELETOON has become one of the most popular viewing options for kids, teens, young adults and families. The network currently reaches more than three million Canadian kids 2-11 and is available in almost seven million homes.
Astral Media (www.astralmedia.com) is one of Canadas leading media companies, active in specialty, pay and pay-per-view television, radio and outdoor advertising. Astral Medias solid and dynamic presence in the countrys major markets rests on its commitment to offer a unique combination of high-quality, targeted media for all its audiences.
Corus Ent. (www.corusent.com) is a Canadian-based media and entertainment company. Corus is a market leader in specialty television and radio with additional assets in pay television, advertising and digital audio services, television broadcasting, children's book publishing and children's animation. The company's multimedia entertainment brands include YTV, Treehouse, W Network, Movie Central, Nelvana, Kids Can Press and radio stations including CKNW, CKOI and Q107. Corus creates engaging branded entertainment experiences for its audiences across multiple platforms. A publicly traded company, Corus is listed on the Toronto (CJR.B) and New York (CJR) exchanges.
