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CHUM hires away Craig advisor as its new CFO

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CHUM Limited
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TORONTO - CHUM Limited announced today that Alan Mayne has been hired as its new chief financial officer.

Mayne joins CHUM from his position as managing director and co-head of mergers and acquisitions at TD Securities Inc., where he led the team that advised on CHUM's acquisition of Craig Media Inc. (which is currently awaiting CRTC approval) and the execution of CHUM's equity offering in July 2003.

Previously, Mayne was managing director and head of TD Securities' media and communications investment banking group.

"We are privileged to have someone with Alan's background and expertise join CHUM's senior management team," said Jay Switzer, CHUM's CEO. "Alan not only has a keen insight into the media sector, but a specific understanding of this company that will be key as we set CHUM's strategies for the future."

"I am very excited to be joining CHUM, a company with a long and successful history as a leader in the Canadian media industry," said Mayne. "I have been impressed with both the quality of the people and the growth potential of the business and I look forward to being part of this great company."

Mayne joins CHUM on July 12th, and will replace Taylor Baiden, who is leaving his position as vice-president of finance on July 15th after a 32-year career with CHUM Limited.
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