Chum prexy-CEO Jay Switzer will step down within two weeks after more than 20 years at Canada’s leading broadcaster.
Switzer, who made his announcement to staffers late last week, is leaving Toronto-based Chum just as rival broadcaster CTVglobemedia is about to take over the company.
Earlier this month, broadcast regulator the Canadian Radio-Television and Telecommunications Commission approved CTVglobemedia’s C$1.4 billion ($1.3 billion) acquisition of Chum. However, the CRTC forced CTVglobemedia to sell Chum’s five City-tv stations, which Switzer developed. Canuck cable operator Rogers is buying City-tv for $349 million.