On February 1, 2011, following approval of the transaction by the Canadian Radio-television and Telecommunications Commission, Cogeco Inc. (“Cogeco”) completed the acquisition of 11 Québec-based radio stations from Corus Entertainment Inc. (“Corus”) for a purchase price of $80 million.
The purchase price was financed in part by a credit facility made available to Cogeco by a lending syndicate composed of The Bank of Nova Scotia as administrative agent and lender, and the Imperial Bank of Commerce as lender.
The stations acquired are Montréal stations CKAC-AM, CFQR-FM, CHMP-FM, CKOI-FM and CFEL-FM and CFOM-FM in Québec City; CHLN-FM in Trois-Rivières; CHLT-FM and CKOY-FM in Sherbrooke; CIME-FM in St-Jérôme and CJRC-FM in Ottawa-Gatineau. Cogeco will divest the CFEL-FM and CJEC-FM stations in Québec and one FM station in the Sherbrooke market, namely Radio Sherbrooke 104.5 FM.
Corus was represented in-house by a team led by Gary Maavara, Executive Vice President and General Counsel and Randy Witten, Vice President and Associate General Counsel, and by Davies Ward Phillips & Vineberg LLP as outside counsel, with a team that included Sébastien Savage, Diana Lyrintzis, Fotini Gagaoudakis and Anaïs Mair (corporate/commercial) in Montréal and George Addy and Elisa Kearney (competition) in Toronto.
Cogeco was represented in-house by a team led by Christian Jolivet, Vice President, Chief Legal Officer and Secretary, and Caroline Dignard, Director, Legal Affairs and by outside counsel Stikeman Elliott LLP, with a team that included Warren Katz, David Massé and Maria Reda (corporate/commercial), Jean Lamothe, Sylvia Avedis, Maxime Jacquin and Kevin Custodio (financing) in Montréal and Jeffrey Brown and Sharon Seung (competition) in Ottawa and Toronto.
The lenders were represented by Blake, Cassels & Graydon LLP, with a team that included James Papadimitriou, Marc-Antoine La Rochelle, Aude Godfroy and Aryana Rousseau in Montréal.
The purchase price was financed in part by a credit facility made available to Cogeco by a lending syndicate composed of The Bank of Nova Scotia as administrative agent and lender, and the Imperial Bank of Commerce as lender.
The stations acquired are Montréal stations CKAC-AM, CFQR-FM, CHMP-FM, CKOI-FM and CFEL-FM and CFOM-FM in Québec City; CHLN-FM in Trois-Rivières; CHLT-FM and CKOY-FM in Sherbrooke; CIME-FM in St-Jérôme and CJRC-FM in Ottawa-Gatineau. Cogeco will divest the CFEL-FM and CJEC-FM stations in Québec and one FM station in the Sherbrooke market, namely Radio Sherbrooke 104.5 FM.
Corus was represented in-house by a team led by Gary Maavara, Executive Vice President and General Counsel and Randy Witten, Vice President and Associate General Counsel, and by Davies Ward Phillips & Vineberg LLP as outside counsel, with a team that included Sébastien Savage, Diana Lyrintzis, Fotini Gagaoudakis and Anaïs Mair (corporate/commercial) in Montréal and George Addy and Elisa Kearney (competition) in Toronto.
Cogeco was represented in-house by a team led by Christian Jolivet, Vice President, Chief Legal Officer and Secretary, and Caroline Dignard, Director, Legal Affairs and by outside counsel Stikeman Elliott LLP, with a team that included Warren Katz, David Massé and Maria Reda (corporate/commercial), Jean Lamothe, Sylvia Avedis, Maxime Jacquin and Kevin Custodio (financing) in Montréal and Jeffrey Brown and Sharon Seung (competition) in Ottawa and Toronto.
The lenders were represented by Blake, Cassels & Graydon LLP, with a team that included James Papadimitriou, Marc-Antoine La Rochelle, Aude Godfroy and Aryana Rousseau in Montréal.
Lawyer(s)
Aryana Rousseau
Warren M. Katz
Kevin Anthony Custodio
David G. Masse
George N. Addy
Sharon Seung
Ian A. Mair
D. James Papadimitriou
Christian Jolivet
Marc-Antoine La Rochelle
Jean G. Lamothe
Diana R. Lyrintzis
Caroline Dignard
Elisa K. Kearney
Sébastien Savage
Jeffrey Brown
Maxime Jacquin
Aude Godfroy
Sylvia Avedis