ARCHIVED - Decision CRTC 2001-545
This page has been archived on the Web
Information identified as archived on the Web is for reference, research or recordkeeping purposes. Archived Decisions, Notices and Orders (DNOs) remain in effect except to the extent they are amended or reversed by the Commission, a court, or the government. The text of archived information has not been altered or updated after the date of archiving. Changes to DNOs are published as “dashes” to the original DNO number. Web pages that are archived on the Web are not subject to the Government of Canada Web Standards. As per the Communications Policy of the Government of Canada, you can request alternate formats by contacting us.
Decision CRTC 2001-545
Ottawa, 31 August 2001
Mr. Anthony P. Viner
Dear Mr. Viner:
This is to inform you that the Commission has decided, by majority vote, that it is prepared to issue a licence to the Biography Channel, conditional upon the change you proposed for article 3.15 of the shareholders' agreement being effected.
The current wording reads as follows:
The current wording of that article could be interpreted as providing the class B non-voting shares with voting power at meetings of shareholders.
You proposed a new article 3.15 to replace the current article 3.15. The wording you proposed for the new article is:
With the change noted above, the Commission would be satisfied that The Biography Channel meets the requirements of the Direction to the CRTC (Ineligibility of Non-Canadians).
The Commission notesthat the allocation of a number of powers and rights to class B non-voting shares results in a structure which could place the non-Canadian shareholder in a position of significant influence over the operations of the corporation, though not in a position of control.
In the future, the Commission will continue to closely review and assess on a case-by-case basis situations where a particular non-Canadian shareholder is given significant influence, in order to determine whether, in the circumstances, such influence amounts to control of the licensee.
Date Modified: 2001-08-31
- Date modified: