A Quebec Superior Court Judge approved the purchase of the TV network TQS by the Montreal-based film and TV production company Remstar Corporation. The deal still has to be approved by creditors in a vote held before April 28, and by the CRTC. The TQS network (60% owned by Cogeco and 40% by CTVglobemedia) includes TV stations in Montreal, Quebec City, Sherbrooke and Trois-Rivieres, as well as affiliates in Gatineau-Ottawa, Val-d'Or, Rouyn-Noranda and Riviere-du-Loup. TQS is over $65 million in debt and has been under court protection from creditors since December. A search for potential buyers has been underway since then. In February, TQS received four serious bids.
Sources: Cartt, 03/10/2008, Marketing Daily, 03/11/2008