Blue Ant Media (the “Company”) today announced that the company has entered into an agreement to purchase digital specialty channel bold from the Canadian Broadcast Corporation (“CBC”). The transaction is conditional upon CBC obtaining the necessary approvals set out in its various licensing, regulatory and statutory terms of operation.
“Acquiring bold will give Blue Ant another platform to engage audiences with unique entertainment content,” said Michael MacMillan, CEO, Blue Ant Media. “We definitely see a lot of opportunity with the channel, while also expanding our array of channel offerings.”
“The decision to sell bold was very difficult, but we’re confident it will continue in good hands,” said Kirstine Stewart, Executive Vice-President, CBC English Services.
“We’re excited to see bold continue to grow and evolve under the ownership of Blue Ant.”
bold currently carries a range of great programming focusing on the lives of rural Canadians. It boasts 2.6 million subscribers.
Capital Canada Limited, a Toronto-based boutique investment bank, acted as exclusive financial advisor to the CBC.
Blue Ant Media is a privately held integrated Canadian media company that creates and distributes great content in lifestyle, travel, documentary, music and entertainment categories. The company owns specialty channels Travel+Escape, Bite TV and AUX TV along with four premium, commercial-free, high definition channels Oasis HD, HIFI HD, eqhd and radX and their companion websites. Blue Ant Media's digital publishing division produces daily content for its web and mobile sites and recently launched AUX Magazine, a monthly music tablet magazine. Blue Ant also has a minority interest in Cottage Life Media Inc., publishers of Cottage Life, Outdoor Canada and Canadian Home Workshop.
CBC/Radio-Canada is Canada's national public broadcaster and one of its largest cultural institutions. The Corporation is a leader in reaching Canadians on new platforms and delivers a comprehensive range of radio, television, Internet, and satellite-based services. Deeply rooted in the regions, CBC/Radio-Canada is the only domestic broadcaster to offer diverse regional and cultural perspectives in English, French and eight Aboriginal languages.
About Capital Canada Limited
Capital Canada Limited is a recognized leader in providing investment banking services to predominantly mid-market companies. In business for over 35 years, Capital Canada has focused on providing its clients with merger and acquisition, private placement, financial restructuring, and general financial advisory services.