Canadian TV Station Sells for $1
There’s got to be either debt, ongoing losses or both involved in the purchase, but this was worth posting for the headline alone.
Canadian broadcaster CTVglobemedia has sold another TV station for $1, this time in Brandon, Manitoba, to Bluepoint Investment Corp.
Bluepoint will take on all of CKX-TV’s broadcast assets and liabilities, including 39 employees, and is expected to close the deal by Dec. 31, pending regulatory approval.
For those of us south of the border, that’s about US$0.90.