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BREAKING NEWS — Bell Globemedia Purchases CHUM

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  • Globeandmail.com, the Globe and Mail’s website, quotes sources as saying Bell Globemedia is buying TV and radio broadcaster CHUM Ltd.

    Shares in CHUM were halted Wednesday morning on the Toronto stock market, pending news.

    CHUM’s holdings include Toronto-based Citytv. Bell Globemedia owns CTV and the Globe and Mail. CHUM owns 33 radio stations, 12 local television stations and 21 specialty television channels.

    CHUM founder and controlling shareholder Alan Waters died in December. At that time his son Jim, CHUM’s chairman, said the family was not interested in selling the company.

    The Waters family controls about 90 per cent of CHUM stock.

    MORE TO FOLLOW.