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Groups urge CRTC to protect Canadian media from foreign takeover

MEDIA RELEASE
FOR IMMEDIATE RELEASE
November 16, 2007

Groups urge CRTC to protect Canadian media from foreign takeover

Gatineau - The Council of Canadians and the Campaign for Democratic Media (CDM) are urging the Canadian Radio-television and Telecommunications Commission (CRTC) to reject an application by CanWest MediaWorks to acquire Alliance Atlantis Communications in partnership with an affiliate of the U.S. investment banking giant Goldman Sachs and Company.

"On paper, the companies have gone to great lengths to meet the technical
requirements of Canada's Broadcasting Act which restrict foreign ownership," says Garry Neil of the Council of Canadians, who will be appearing at the public hearing on Monday, November 19. "But if the deal goes through, it will effectively allow a U.S. corporation to own and control two of Canada's largest media companies." For the purpose of its acquisition of Alliance Atlantis, CanWest has entered into a partnership with GS Capital Partners (GSCP), an affiliate of Goldman Sachs and Company. GSCP will acquire by far the largest equity interest in the company that will own the broadcast companies of Alliance Atlantis and into which CanWest's broadcasting assets will be transferred.

“There appears to be no real benefit to Canadians from the proposed deal," says Steve Anderson, coordinator of the Campaign for Democratic Media. "We need a Canadian-owned system that is committed to providing news and other programming that reflects the diversity of our population. Wall Street is not likely to help us get there."

The Council of Canadians and the CDM will be among the groups protesting outside the Canadian Radio-television and Telecommunications Commission (CRTC) hearing on Monday, November 19 at 8:15 a.m.

About us:

Founded in 1985, the Council of Canadians is Canada’s largest citizens’ organization, with members and chapters across the country. We work to protect the public interest by promoting progressive policies on fair trade, clean water, energy security, public health care, and other issues of social and economic concern.

Canadians for Democratic Media is a national, non-profit, non-partisan media reform network working to increase informed public participation in Canadian media policy formation. We strive to generate policies that will produce a more competitive diverse, and public service-oriented, media system with a strong non-profit and non-commercial sector.

For more information, please contact:

Meera Karunananthan: 613.233.4487 ext.234, 613.795.8685 (cell); [email protected]; canadians.org; democraticmedia.ca

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