CRTC approves transfer of TQS to Cogeco and Bell

The commission on Friday approved the transfer of TQS from Quebecor Inc. to Cogeco and Bell Globemedia.

The total value of the transaction is about $73.9 million. Cogeco will own 60% and Bell Globemedia will own 40%. The transfer affects the TQS network licence, television stations in Montreal and Quebec City, a transmitter in Rimouski, as well as TQS' 20 % ownership interest in the French-language pay-per view channel, Canal Indigo.

The approval is conditional on TQS applying to amend its licence so that 92% of the tangible benefits which amount to 10% of the total value of the transaction, or $7.39 million will be directed to independent production and the remaining 8% to support the Quebec broadcasting industry in the areas of training and professional development. For the complete Decision CRTC 2001-746, go to:

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