TV

Blue Ant Media to buy High Fidelity HDTV

Former Alliance Atlantis Communications topper Michael MacMillan is stepping up his return to broadcasting with his Blue Ant Media shingle acquiring Canadian broadcaster High Fidelity HDTV.
December 22, 2011

Former Alliance Atlantis Communications topper Michael MacMillan is stepping up his return to broadcasting with his Blue Ant Media shingle acquiring Canadian broadcaster High Fidelity HDTV.

Also today, media company Torstar Corp. took a 25% stake in Blue Ant Media at a cost of CDN$22.7 million.

MacMillan earlier this year acquired a controlling interest in cross-platform broadcaster GlassBOX Television, which includes such specialty channels as Travel+Escape, AUX and Bite TV.

The deal for High Fidelity HDTV gives MacMillan four premium high definition channels – Oasis HD, eqhd, radX and HIFI HD, subject to CRTC approval.

Blue Ant Media is not disclosing the terms of its deal for High Fidelity HDTV until it completes its application for a transfer of ownership with the CRTC.

Blue Ant Media will initially buy 29.9% of shares in High Fidelity HDTV, with the remaining 70.1% of shares to be acquired on the deal’s closing.

The media holding company also owns a minority stake in Quarto Communications, a magazine publisher.

Torstar Corporation is taking the minority stake in Blue Ant Media after cashing out of an investment in CTVglobemedia.

“We believe it’s a great time to establish and grow a new kind of media company in Canada and our investments in High Fidelity and GlassBOX provide a robust and complementary offering for audiences,” MacMillan, CEO of Blue Ant Media, said in a statement.

“We are pleased Torstar Corporation sees the opportunity with our company. Their participation along with Providence will further boost the support of our properties,” he added.

(From Playback Daily)

About The Author
Daniele Alcinii is a news reporter at realscreen, the leading international publisher of non-fiction film and television industry news and content. He joins the rs team with journalism experience following a stint out west with Sun Media in Edmonton's Capital Region, and communications work in Melbourne, Australia and Toronto. You can follow him on Twitter at @danielealcinii.

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