TORONTO — National broadcaster CTV Inc. says it has found a Canadian private investment firm that plans to buy its station in Brandon, Man., for $1.
CTV announced Thursday that Bluepoint Investment Corp. will pick up the station as part of a deal expected to close by Dec. 31.
“This is good news for the employees that work at CKX-TV Brandon and the surrounding communities who depend everyday on the local programming that the station provides,” said CTV spokesman Paul Sparkes in a release.
The Brandon station has been in danger of closing after the government-owned Canadian Broadcasting Corp. decided not to renew its affiliation agreement.
CTV has said it’s struggling under its own financial constraints as advertising revenues plunge, making it difficult for the private-sector company to run stations in some local markets.
“We are delighted to announce our acquisition of the Brandon station, the first part of our strategic plan to become a significant media player in North America,” said Bluepoint chief executive Colin Berrie.
CTV said there are 39 people employed at the Brandon station.
