Scott Prescott practises communications and administrative law. He is an expert on the legal, regulatory and policy frameworks governing the broadcasting and telecommunications industries in Canada. Providing complex legal and strategic advice, clients include leading Canadian and international communications companies. He advises a number of cable, IPTV and satellite distributors, television and radio broadcasters, online content providers, foreign programming services, Internet service providers and wireline and wireless telecommunications carriers. Scott acts for clients in a broad range of proceedings before the Canadian Radio-television and Telecommunications Commission (CRTC). Scott’s communications practice includes advising on various matters relating to licensing and regulatory compliance, dispute resolution, regulatory and statutory interpretation, transfers of ownership and control, Canadian ownership and foreign investment, regulatory and policy frameworks, building access and telecommunications interconnection, licensing and tariffs.
On October 26, 2018, Stingray Digital Group Inc. (TSX: RAY.A; RAY.B), a leading music, media and technology company, completed the acquisition of Newfoundland Capital Corporation Limited (TSX: NCC.A; NCC.B), one of Canada’s leading radio broadcasters with 101 broadcast licences (72 radio stations and 29 repeating signals) across Canada, in a transaction valued at approximately $506 million.
Stingray Digital Group Inc. (Stingray) completed a public offering of an aggregate of 4,900,200 subordinate voting shares and variable subordinate voting shares, inclusive of 552,200 subordinate voting shares issued pursuant to the partial exercise of the over-allotment option, on a bought deal basis, at a price of $9.20 per share for gross proceeds of approximately $45.1 million.
On May 25, 2017, Sirius XM Canada Holdings Inc. completed its statutory plan of arrangement whereby all its shares were acquired by a corporation, 2517835 Ontario Inc., owned by Slaight Communications Inc., Obelysk Media Inc. and Sirius XM Radio Inc. Sirius XM Canada Holdings also announced that it will be redeeming all of its outstanding 5.625 per cent senior unsecured notes due April 23, 2021, at a redemption price equal to 102.813 per cent of the principal amount of the Existing Notes plus accrued and unpaid interest.
