CHEK-TV sold to investor consortium
On November 9, 2009, the Canadian Radio-television and Telecommunications Commission ("CRTC") approved the sale of Canwest Television Limited Partnership's television station CHEK-TV in Victoria, British Columbia to a consortium of local investors, 39 employees of the TV station and locals of the Communications Energy and Paperworkers Union. The transaction closed shortly thereafter.
Canwest had put CHEK-TV up for auction earlier in the year. The transaction included novel interim management and trust arrangements and an abbreviated time line to seek CRTC approval.
The purchaser was advised with respect to CRTC matters by Joel Fortune of Fasken Martineau.