CBC Sells Specialty Channels

A joint venture company owned by Canadian Broadcasting Corp. and Power Broadcasting Inc. recently sold two international specialty channels, Trio and News World International, to a division of cable giant USA Networks, Inc., for $155 million. The two channels sold are Trio Entertainment Network, a general entertainment channel featuring dramas, documentaries and films from Canada, Britain and Australia and Newsworld International, a 24-hour global news station.

For the Canadian portion of the transaction, John W. Leopold, William B. Rosenberg and Victor Salvaggio of Stikeman Elliott, Montreal acted for USA Networks. Douglas C. Robertson (Montreal), Joel Shachter (Toronto) and Daniel J. Gormley (Toronto) of Goodman Phillips & Vineberg acted for Power Broadcasting. Brian P. McIntomny of Gowling Lafleur Henderson LLP, Ottawa acted for the CBC.