ARCHIVED - Decision CRTC 95-717
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Ottawa, 3 October 1995
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Decision CRTC 95-717
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Télédiffusion Sainte-Adèle Inc.
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Sainte-Adèle, Quebec - 951281500
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Transfer of control
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Following Public Notice CRTC 1995-134 dated 8 August 1995, the Commission approves the application for authority to transfer effective control of Télédiffusion Sainte-Adèle Inc., licensee of the cable distribution undertaking serving Sainte-Adèle, through the transfer of all issued and outstanding shares from Maurice Guesthier, Marc Guesthier and Magalie Guesthier to Cogeco Cable Canada Inc. (Cogeco). As a result of this transaction, Télédiffusion Sainte-Adèle Inc. will become a wholly-owned subsidiary of Cogeco, an indirect subsidiary of Cogeco Inc.
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The purchase price for the shares is $10,000,000. Based on the evidence filed with the application, the Commission has no concerns with respect to the availability or the adequacy of the required financing.
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Because the Commission does not solicit competing applications for authority to transfer effective control of broadcasting undertakings, the onus is on the applicant to demonstrate to the Commission that the application filed is the best possible proposal under the circumstances, taking into account the Commission's general concerns with respect to transactions of this nature. As a first test, the applicant must demonstrate that the proposed transfer will yield significant and unequivocal benefits to the community served by the broadcasting undertaking and to the Canadian broadcasting system as a whole, and that it is in the public interest.
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The Commission has assessed the total benefits package, including quantifiable benefits amounting to $670,200 and, in general, is satisfied that it is significant and unequivocal, and that approval of this application is in the public interest. With respect to intangible benefits, the Commission notes in particular the special circumstances invoked by Cogeco, that is the new climate of competition, the need to regroup and stengthen cable undertakings and the resulting benefits for subscribers.
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The Commission considers the buyer's undertaking that the costs associated with the benefits package noted in this decision will not form part of any fee filing under subsections 18(6) and 18(8) of the Cable Television Regulations, 1986 to be an important element of this application.
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In Public Notice CRTC 1992-59 the Commission announced implementation of its employment equity policy. It advised licensees that, at the time of licence renewal or upon considering applications for authority to transfer ownership or control, it would review with applicants their practices and plans to ensure equitable employment. In keeping with the Commission's policy, it encourages the applicant to consider employment equity issues in its hiring practices and in all other aspects of its management of human resources.
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Allan J. Darling
Secretary General |
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