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CTV has sold CKX-TV Brandon to Canadian investment firm Bluepoint Investment Corporation for one dollar. Bluepoint assumes all of CKX-TV's broadcast assets, liabilities and commitments with the purchase, including the station's 39 employees.
Paul Sparkes, CTVglobemedia"s EVP of corporate affairs, explains, " 'being an independent operator, Bluepoint will be able to access the Small Market Local Programming Fund. This is something that neither CTV nor Canwest have been able to draw from - unlike Shaw, for instance, which receives a subsidy from the Fund for its Kenora television station.' "
Bluepoint CEO Colin Berrie said, " 'we believe that with the CRTC's recent announcement regarding the Local Programming Improvement Fund (LPIF), the potential is very good in small-market television.' "
It is anticipated that the deal will close on or before December 31, 2009, pending CRTC approval.
Source: Cartt, 07/16/2009
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