SHOCKER: Former owner of Citytv Toronto possibly buying Sun News Network

[Journalist 894]

From the Globe and Mail, we might be seeing the guy who created the popular CityPulse news format, the CHUM Television and Radio stations and more famously - Citytv Toronto - is now pursuing to buy Fox News North: Sun News Network.

 

 

 

According to a source familiar with the negotiations, Mr. Znaimer is eager to make a deal that would see ZoomerMedia Ltd., a company he controls, buy the news and opinion channel before the year is over. Mr. Znaimer currently has exclusive negotiating rights, and the price of the purchase would be low, the source said.

Once the architect of CITY-TV, Mr. Znaimer now owns a stable of TV, radio and other media properties targeting an audience aged 45 and older – what ZoomerMedia calls “the world’s largest and most affluent generation.” Buying the Sun network would give him another foothold in television.

This is big news for the Canadian news market. Are we seeing a return of the actual CityPulse format, which was watered down severely from Rogers? Who knows, but this is a real shocker.

 

News article: http://www.theglobeandmail.com/report-on-business/moses-znaimer-in-talks-to-buy-sun-news-network/article22034115/

[Mrtraveler01 737]

Definitely a shocker. Didn't realize Quebecor was in that bad of shape financially.

 

Sun News Network’s future has been in question since early October, when Postmedia Network Canada Corp. announced it was buying the Sun chain of newspapers from Quebecor as part of a $316-million deal.

 

Guess it was a matter of time before they gave up their TV operations as well. I think they still own a cable company though (Videotron) unless that's up for sale too.