Company ups holdings from 20% to 50.5%
TORONTO — Corus Entertainment has been given the greenlight to acquire a controlling interest in specialty TV channel Telelatino Network by Canada’s broadcast regulator.
“We’re pleased to have received this approval which will now allow us to realize the benefits of the acquisition, both in terms of Telelatino revenue, and joint marketing and programming opportunities between TLN and other Corus specialty television assets,” said John Cassaday, president and CEO of Corus. “TLN is a well-run network with a solid customer base which we believe can grow with the benefit of Corus’ resources and commitment.”
Corus decided in March to up its holdings in Telelatino from 20% to 50.5% for C$11 million ($7 million).