Rogers Media to Acquire Citytv Stations from CTVglobemedia Inc.

Jun 11, 2007, 01:00 ET from Rogers Media Inc.

    TORONTO, June 11 /PRNewswire-FirstCall/ - Rogers Media and
 CTVglobemedia Inc. ("CTVgm") today announced an agreement under which
 Rogers Broadcasting, a Rogers Media subsidiary, would acquire five Citytv
 conventional television stations from CTVglobemedia Inc. These assets are
 currently under the control of Mr. John D. McKellar, C.M., Q.C., Trustee
 under a Voting Trust Agreement in respect of CHUM Limited. The transaction
 is subject to Canadian Radio-television and Telecommunications Commission
 ("CRTC") and Competition Bureau approval. This transaction is also subject
 to the satisfaction of the other conditions of approval for CTVglobemedia's
 acquisition of effective control of CHUM Limited as per the CRTC's June
 8th, 2007 decision. CHUM Limited and Mr. John McKellar are also parties to
 this agreement.
     This agreement replaces a previously announced agreement pursuant to
 which CTVglobemedia Inc. had agreed to sell the A-Channel stations and
 certain specialty channels to Rogers Media.
     Citytv Toronto (CITY-TV), Citytv Winnipeg (CHMI-TV), Citytv Edmonton
 (CKEM-TV), Citytv Calgary (CKAL-TV) and Citytv Vancouver (CKVU-TV) are
 local, urban oriented stations known for their ties to the communities they
     "The acquisition of the Citytv stations will significantly expand our
 television operations and solidify our position as an important participant
 in the Canadian television industry," said Rael Merson, President, Rogers
 Broadcasting. "It gives Rogers an instant and significant television
 presence in the largest markets in the country and is a natural complement
 to our existing television broadcasting and specialty assets. The
 combination of our existing television properties with the Citytv stations
 gives us a formidable national television platform that will continue our
 proud tradition of service to local communities and our desire to
 contribute to the Canadian broadcasting system."
     "Rogers came in with a very strong offer on a pre-emptive basis, which
 will see the Citytv stations in a fine home in a timely manner. This
 outcome is good for both the businesses and the stations' employees," said
 Ivan Fecan, CTVglobemedia Inc. President and Chief Executive Officer and
 CEO of CTV Inc. "We know Rogers to be skilled operators of television
 assets and believe they will be good stewards of these important urban
     The all cash transaction is valued at approximately $375 million and is
 expected to close late in 2007.
     TD Securities advised CTVgm on this transaction.
     About the Companies:
     Rogers Media Inc., a division of Rogers Communications Inc., (TSX: RCI;
 NYSE:   RG) operates Rogers Broadcasting and Rogers Publishing. Rogers
 Broadcasting has 51 AM and FM radio stations across Canada. Television
 properties include multicultural television broadcaster Rogers OMNI
 Television, which is a free over-the-air system consisting of four regional
 broadcasters; The Shopping Channel, a televised and electronic shopping
 service; Rogers Sportsnet, Canada's live event and high-definition leader,
 and the management of two digital television services. Rogers Publishing
 produces many well-known consumer magazines such as Maclean's, Chatelaine,
 Flare, L'actualite and Canadian Business, and is the leading publisher of a
 number of industry, medical and financial publications. All media
 properties are integrated with their own popular web sites. Rogers Media
 also owns The Toronto Blue Jays Baseball Club and Rogers Centre, a
 year-round sports and entertainment facility.
     Rogers Communications Inc. (TSX: RCI; NYSE:   RG) is a diversified
 Canadian communications and media company engaged in three primary lines of
 business. Rogers Wireless is Canada's largest wireless voice and data
 communications services provider and the country's only carrier operating
 on the world standard GSM technology platform. Rogers Cable and Telecom is
 Canada's largest cable television provider offering cable television,
 high-speed Internet access, residential telephony services, and video
 retailing, while its Rogers Business Solutions division is a national
 provider of voice communications services, data networking, and broadband
 Internet connectivity to small, medium and large businesses. Rogers Media
 is Canada's premier collection of category leading media assets with
 businesses in radio and television broadcasting, televised shopping,
 publishing and sports entertainment. For further information about the
 Rogers group of companies, please visit
     CTVglobemedia Inc. is one of Canada's premier multi-media companies
 which owns CTV Inc. and The Globe and Mail. CTV Inc. operates 21
 conventional television stations across Canada and has interests in 16
 specialty channels. Other CTVglobemedia investments include an interest in
 Maple Leaf Sports and Entertainment, which owns the Toronto Maple Leafs,
 Toronto Raptors and the Air Canada Centre and an interest in Dome
 Productions, a North American leader in the provision of mobile high
 definition production facilities.
     Caution Regarding Forward-Looking Statements:
     This release includes forward-looking statements and assumptions
 concerning the future performance of our business, its operations and its
 financial performance and condition. These forward-looking statements
 include, but are not limited to, statements with respect to our objectives
 and strategies to achieve those objectives, as well as statements with
 respect to our beliefs, plans, expectations, anticipations, estimates or
 intentions. Statements containing expressions such as "could", "expect",
 "may", "anticipate", "assume", "believe", "intend", "estimate", "plan",
 "guidance", and similar expressions generally constitute forward-looking
 statements. Such forward-looking statements are based on current
 expectations and various factors and assumptions applied which we believe
 to be reasonable at the time. We caution that all forward-looking
 information is inherently uncertain and that actual results may differ
 materially from the assumptions, estimates or expectations reflected in the
 forward-looking information. Accordingly, we warn investors to exercise
 caution when considering any such forward-looking information herein and to
 not place undue reliance on such statements and assumptions. We are under
 no obligation (and we expressly disclaim any such obligation) to update or
 alter any forward-looking statements or assumptions whether as a result of
 new information, future events or otherwise, except as required by law.

SOURCE Rogers Media Inc.