The CRTC approved a two-part transaction Tuesday that will transfer the ownership and control of the Travel + Escape specialty channel from CTVglobemedia Inc. to GlassBox Television Inc. The share purchase price of the transaction is valued at $10 million. The CRTC also approved a benefits package worth 10 per cent of the value of the transaction to go to the Canadian broadcasting sector. The benefits package includes $850,000 that will be directed to a fund to be known as the GlassBox Travel Multiscreen Fund. It will finance travel-related television content. A further $50,000 will go toward the National Screen Institute, $65,000 will go toward scholarships for students in media training programs, and $35,000 will help fund an industry networking event called nextMedia Banff.
Source: The Wire Report, 10/26/2010