CCR Short Takes

Quebecor says it won't sweeten Videotron offerQuebecor Inc says its $5.9-billion proposal to take over Groupe Vidéotron ltée will remain as it is, until a court rules on the right of the Caisse de depot et placement du Quebec to block a rival arrangement with Rogers Communications Inc. Videotron's controlling shareholder, the Chagnon family, is contesting the Caisse's right under an agreement between the two, saying the pension fund manager did not act in good faith when it worked out a deal with Quebecor. Vidéotron founder Andre Chagnon, whose family owns 72% of the company, said in a statement released last week that he would not sell at all rather than sell out to Quebecor and the Caisse. Rogers wins four Hometown Video Festival Awards.Rogers Television has won four international prizes at the 2000 Hometown Video Festival Awards in California. The prizes are sponsored by The Alliance for Community Television. Rogers Television's award-winning productions were: Decision Ontario: 1999 Election Coverage - Rogers Television London (Election Coverage Category); Mississauga's Miracle - Reflections on the 1979 Train Derailment - Rogers Television Mississauga (Documentary: Event Category); 10%Qtv - Rogers Television Toronto (Gay/Lesbian Category); Howl With the Wolves - Rogers Television London (Program Promotion Category).Quebec digital TV company gets cash boostThe Societe Generale de Financement du Quebec is pumping $14 million into digital-TV firm Miranda Technologies Inc, to help the company gain a bigger foothold in the U.S. and create 100 jobs. BDC Risk Capital and Investissement Desjardins are each injecting $3 million as well, bringing the total investment to $20 million. The 11-year-old St. Laurent-based firm makes equipment and software that convert analogue TV signals into digital signals. As the lines between traditional media and the Internet converge, high-definition digital-TV technology is taking off. Miranda president Christian Tremblay said that while TV images on the Internet are becoming increasingly common, the quality is low. He said the $20-million investment will help the company make acquisitions, increase its presence in the U.S. and eventually go public.Look Communications closes $20-million credit dealLook Communications Inc has closed a short-term, $20-million bank credit facility with the Bank of Nova Scotia. The short-term facility extends to July 31, 2000, and is fully guaranteed by Telesystem Ltd. Look is currently in discussions with bank lenders with respect to longer term financing. Look hopes to complete discussions with such lenders by July 31, 2000. The company also plans to seek additional equity funding later this year. Louis Villeneuve, Look's CFO, said at the company's annual meeting in Toronto that Look is now targeting the business Internet market. In addition to its Internet access and services business, the company operates LookTV, which uses multipoint distribution system wireless technology.Film Centre launches on-line biography programThe Canadian Film Centre has launched the Great Canadian Story Engine, a nation-wide project that will collect and publish online real-life stories contributed by Canadians of all ages and backgrounds. As the first full-scale web initiative to be produced by the Canadian Film Centre's new media training facility, the Great Canadian Story Engine invites people to contribute personal stories to the project's web site, www. storyengine.ca.Nelvana makes major merchandising dealNelvana Ltd has bought the remaining merchandising and interactive interests of Wild Things Productions in Little Bear, the Daytime Emmy-nominated character brand. The US$2.75-million acquisition now gives Nelvana full control of licensing activities for the book-based property. Nelvana also acquired additional rights to production publishing activities for the television series. The Little Bear television series airs on Nick Jr. in the U.S. and CBC and SRC in Canada. Nelvana can now develop, manufacture, distribute and exploit the Little Bear property and TV production through toys, games, furniture, linens, apparel, giftware, stationery and novelty items, as well as selected baby care products. Nelvana can also spin off advertising, audio tapes and music recordings, premiums and promotions. Nelvana's newly acquired production publishing rights to Little Bear allows the company to create publishing opportunities based on episodes of the TV series.Cancom makes deals with TVO and specialty networksCanadian Satellite Communications Inc (Cancom) has been chosen to provide full network management services for the Ontario government's public broadcasters, TVO (English) and TFO (French). Under a long-term agreement, Cancom will be responsible for providing space segment, uplink facilities and digital video compression (DVC) for both services. As well, Cancom has reached an agreement with Headline Sports - The Score and WIC Premium Corp to provide full network distribution services for Family Channel East, Family Channel West, Movie Max, Superchannel 1, 2, and 3, Teletoon East, Teletoon West, and Teletoon Francais.Canada's first wireless Internet TV broadcaster hits Bay StreetWorkdayTV Corp has teamed up with Global Investment.com Financial Inc to create a new place for investors to get the latest financial information. The partnership plans to build a permanent broadcast studio and office in Toronto's financial district. WorkdayTV.com currently operates out of a roving van. The no-frills Internet broadcaster was launched in April and has been filing live reports from Bay Street since then. Global Investment.com will gain a 20% equity stake in WorkdayTV. In return, Global Investment.com will provide WorkdayTV with increased resources and exposure through Internet broadcasting, broadcast television, magazines, newsletters and web site outlets. For full details on this story, see the June 14 issue of Canadian NEW MEDIA.Super merger creates world's second-largest media megacorpVivendi, Canal Plus and Montreal-based Seagram Ltd have merged to create the world's largest media company after the proposed AOL-Time Warner combination. The new company is Europe's first real global entertainment powerhouse. Canal's entertainment holdings, including Seagram's Universal Studios as well as Canal's pay TV, library and film production. Studio Canal, the company's film studio, will be operated separately from Universal. Canal Plus has partnership agreements with several Canadian film production houses and animators.

CCR Short Takes

News | 06/22/2000 4:00 am EDT

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