Daily News Tuesday, October 31, 2024
Bell Globemedia Completes Acquisition of all Outstanding Shares of CHUM
of CHUM with an indirect wholly-owned subsidiary of Bell Globemedia Inc. was approved. The amalgamation was completed shortly
after the meeting.
BGM has completed a compulsory acquisition of all of the common shares of CHUM that were not tendered
to BGM's offer to purchase all of the outstanding Common Shares and any and all of the outstanding non-voting Class B shares of CHUM, which expired at 5:00 p.m. (Toronto time) on September 12, 2024.
As previously announced, all Common Shares acquired by BGM have been placed in the hands of an independent trustee pursuant to a voting trust
agreement approved by the Canadian Radio-television and Telecommunications Commission. Pursuant to this voting trust agreement, such Common Shares will be voted by the trustee and control of CHUM will reside with the trustee pending consideration by the CRTC of BGM's application for approval of its acquisition of control of CHUM.
As a result of the completion of the Compulsory Acquisition and the Amalgamation, BGM now owns all of the outstanding Common Shares and all of the
outstanding Class B Shares.
The Common Shares have been de-listed from the Toronto Stock Exchange and the Class B Shares are expected to be de-listed from the TSX within three business days. CHUM intends to apply to the applicable securities regulatory authorities to cease to be a reporting issuer under the applicable
securities legislation as soon as practicable.
