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Bell Globemedia makes $1.7B bid for CHUM


bradm

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According to

http://www.cbc.ca/story/business/national/2006/07/12/chum-bell.html

Bell Globemedia made a friendly takeover bid worth $1.7 billion to buy the Toronto-based radio and TV broadcaster CHUM Ltd., on the same day that CHUM cut 281 jobs across the country.

Also from the article:

CHUM's TV stations include:

* Citytv outlets in Toronto, Vancouver, Calgary, Edmonton and Winnipeg.

* A-Channel stations in Barrie, Ottawa, London, Windsor, Wingham, Victoria/Vancouver.

* CKX Television in Brandon.

CHUM's specialty television channels include MuchMusic, MuchMoreMusic, Bravo!, ACCESS, CLT, CablePulse24, SPACE: The Imagination Station, Star! and half interests in MusiquePlus and MusiMax.

Various press releases from CHUM can be found here.

Aloha,

Brad

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There's not a lot of happiness here at work. All the A-Channels are going to be sold across the country. I have 10 years seniority, so I hope that counts for something. Don't expect to see any news coming out of London's A-Channel ever again - starting today. I've been through a merger before and got out when the getting was good. I don't know what to do now.

Yes, I'm sensitive about this news. I'm getting married in a month amongst many other things.

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Thanks Timouse, and I believe I owe you a belated birthday well-wish.

The initial layoffs have already started outside of Toronto, but allegedly, the staff at the affiliates will be the only one's in the foreseeablefuture that come under the axe.

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Just a quick clarification Jaimoe as I work at the London A-channel. It is in essence "business as usual" here. News will continue to come out of here for quite awhile. We are the only TV in the market so if CTV doesn't find a way to severe us from the larger A-Channel spinoff, some independant will. We aren't going anywhere.

45 jobs were lost here today and it wasn't a pretty sight. Still isn't, actually. There are fifteen of us in the newsroom right now working on the 11:00 show...of those 15, only 7 of us will be here in January.

Most of the jobs lost are technical jobs that will be replaced by computers - that new computer system can be seen as a massive investment in London rather than the locked doors that those poor employees in Victoria and Vancouver walked into this morning.

And, also to clarify a bit in your post...it isn't just the A-channels being sold, its all 12 TV stations, 21 specialties and 33 radio stations.

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Thanks MK. I meant to say the Ottawa A-Channel news. I heard about the 45 laid-off, but that news is still considered internal.

I work for two of the 12 TV stations and four of the speciailties and I know they are being sold too.

Whatever. It sucks all-round.

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When I showed up at work at 7:00 pm, I was told to keep quiet because not everyone being laid-off knew about it - the A-Channel master op, formally of London, told me that not everyone knew about being laid-off. He may have been misled however.

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Hey Chewie - I don't think you would know anyone. all the jobs were in-studio jobs so it's not anyone you would run into out in the field.

I'm on nights this week so I'll be working during Little Feat. Chances are I'll try to get down there with the camera.

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