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CCSA Welcomes CRTC's New Approach for Canadian Conventional Television
QUISPAMSIS, NEW BRUNSWICK - The Canadian Cable Systems Alliance (CCSA) congratulates the CRTC on providing a workable roadmap for the future of conventional television that is in the bests interests of Canadian consumers.
"Rejecting the broadcasters' demands for a new fee to carry signals which are free over-the-air is a sound regulatory decision" said CCSA President and CEO, Alyson Townsend. "Why should cable and satellite customers have to bear the burden of upgrades to the infrastructure of very profitable businesses. Allowing broadcasters to increase their revenues through additional advertising rather than introducing new subscription fees is the best approach if these companies need more revenue" added Townsend.
The CRTC has also established a firm deadline for the switchover from analog to digital transmission. While this date is some 2 1/2 years after the US deadline it is still preferable to have regulatory certainty to allow all participants in the Canadian broadcasting system to plan accordingly. CCSA believes the hard analog shut-off date will encourage the timely creation of Canadian HDTV programs that are needed to continue to attract Canadian viewers to Canada's regulated broadcasting system.
The Canadian Government should also follow another aspect of the US model in providing subsidies to consumers to purchase set-top boxes to receive the digital signals. In the US, the recouping of the analog spectrum and its subsequent sale for new advanced communications and emergency services will generate significant revenue which will more than offset the consumer subsidies. Such an approach in Canada would accelerate the transition to digital and ensure consumers are not adversely affected.
CCSA also looks forward to participating in the proposed consultation on mechanisms to facilitate digital distribution to smaller and remote communities. These are the communities served by CCSA Member Cmpanies - they must not be left behind in the transition to digital.
CCSA is a buying group formed by independent cable companies across Canada. CCSA's members are more than 90 cable companies across Canada, including many small cable systems that serve Canada's North, aboriginal communities and rural centres in all provinces and territories.
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See Guelph in new television series premiering May 22
The Best Years, a new television series filmed partly in Guelph, premiers May 22, 2007 at 10:00pm on the Global Television Network. Exteriors in the Glasgow Street and Kent Street neighbourhood as well as the campus of the University of Guelph were filmed for this series last fall. Macdonald Hall, Johnston Hall, OVC and Winegard Walk are just some of the locations that double as the fictitious Charles University in this series.
The Best Years (www.thebestyearstv.com), the highly anticipated hour-long drama created by Aaron Martin (Degrassi: The Next Generation), follows orphaned and full-ride scholar, Samantha Best (Charity Shea), as she starts her freshman year at the prestigious Charles University in Boston, Massachusetts. Samantha has been shuffled through the foster care system her entire life and is finally looking forward to a future of new opportunities and friendships. She has to contend with the ins and outs of college as she struggles to find her own identity.
“The Best Years delivers top-notch writing, compelling storylines and a talented young cast – a combination we know our audiences will love,” said Christine Shipton, Vice President of Original Programming for CanWest MediaWorks Inc. Excited about the debut, creator and executive producer Aaron Martin said, “As a first time television series creator, it’s an adrenaline rush seeing the show come to fruition on the small screen.”
The series is produced by Blueprint Entertainment (www.blueprint-corp.com), the same production company for Gospel of Deceit which was also filmed in locations throughout Guelph.
The Best Years is also slated to premiere this summer on The N, a programming arm of MTV Networks in the US, and is distributed internationally by FremantleMedia Enterprises, the commercial arm of FremantleMedia, one of the largest international creators and producers of program brands in the world.
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CRTC Decision: A Blow to Canadian Programming
OTTAWA - As a result of the Canadian Radio-television and Telecommunications Commission's (CRTC) new approach for Canadian conventional television, it is a great day for broadcasters airing U.S. programming, but the future of Canadian programming is much less promising.
By increasing the number of advertising minutes in American programming
aired by Canadian private conventional broadcasters, both English and French,
the CRTC has effectively increased the value of this programming, and removed
the incentive for private broadcasters to create more Canadian drama.
In addition, by refusing to make conventional broadcasters eligible to
receive fees for the carriage of their local conventional television signals,
while recognizing their full jurisdiction in this area, the Commission has
missed another opportunity to help ensure a sustainable future for Canadian
programming.
CBC/Radio-Canada is disappointed in today's decision. Over the longer
term, the net result will be fewer opportunities for Canadian stories to be
told.
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Maclean's asks: What will it take to make Canadian women have more children?
Canada has a baby deficit. Will paying women to have more kids help? Also
in this week's issue of Maclean's: The Frank factor: is Stronach playing
Russian roulette? And, paradise for pedophiles - Montreal's the place to
be. Read more, in this week's Maclean's.
TORONTO - The popular concept of motherhood has never been more rarefied. Celebrity tabloids that make motherhood look as breezy as Jennifer Garner taking her little daughter Violet down a park slide have helped spawn a multimillion-dollar industry of high-priced Blissful Mommy props: organic baby foods, boutique onesies, designer furniture and pink, camouflage diaper bags. To look at it all, one might think procreation itself was a fad, newly invented by Hollywood.
"How strange, then," reports Maclean's senior editor Lianne George, "that
just as the mommy industry is booming, we're in the grips of a baby bust."
Canada's fertility rate has been in a free fall for decades. In recent years,
though, it has hovered at an all-time low of roughly 1.5 children per woman
(we need 2.1 if we're going to replace ourselves). Social analysts pin it on
some jumble of female education and fiscal autonomy, secularization, birth
control, Sex and the City, a heightened desire for personal freedom, and
increasing uncertainty about bringing a child into a world plagued by
terrorism, global warming and Lindsay Lohan. In a hyper-individualistic,
ultra-commodified culture like ours, motherhood, for better and worse, is less
a fact of life than just another lifestyle choice. All over the developed
world, the same pattern is apparent. Russia, Britain, Ireland, Australia,
Spain, Italy and dozens of other countries are contending with fertility rates
well below replacement levels.
The Frank factor
First a bid for Chrysler, now a partnership with a Russian oligarch. This
week's Maclean's asks, is Frank Stronach nuts? Late last week, Stronach
steered into an agreement to sell part of the company to Oleg Deripaska, a
controversial Russian billionaire with close ties to the Kremlin who is barred
from traveling to the United States. The move, which will see Deripaska
sharing control of Magna, stunned shareholders and left analysts scrambling to
explain what Stronach is up to. Is it Magna's long-awaited breakthrough, or a
game of Russian roulette?
Paradise for pedophiles
Montreal, it seems, is the place to be if you're attracted to children.
Some claim police and citizen indifference is to blame, while others note the
abundance of pedophilia-related web sites hosted by Montreal based companies.
Maclean's assistant editor, Martin Patriquin investigates.
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WANTED: Canada's Next Top Companies - PROFIT magazine makes its annual call for the country's best young businesses
TORONTO - Canada's most enriching rankings and recognition program for young businesses - the PROFIT HOT 50 - is now accepting nominations for 2007.
If you own, work for or know of a successful young company, then nominate it now for the 8th annual PROFIT HOT 50 at http://www.profitguide.com/hot50ballot before the entry deadline of June 30, 2007.
Qualifying companies will receive valuable profile in the October issue
of PROFIT, plus opportunities for additional publicity through local and
national media outlets. Best of all, the chief executives of HOT 50 companies
receive a complimentary invitation to GrowthCamp, the exclusive conference of
the PROFIT HOT 50. Attendees will learn tactics and strategies for achieving
the next growth stage from leading business speakers and consultants, and will
have multiple opportunities to discuss their challenges and best practices
with other HOT 50 leaders. Golf and a gala awards dinner are also part of the
program. GrowthCamp 2007 will be held Sept. 28-30 in Niagara-on-the-Lake, Ont.
"Each year, the PROFIT HOT 50 program identifies the new champions of
Canadian businesses, celebrates their achievements and reveals the strategies
that lead to startup success," says Ian Portsmouth, Editor of PROFIT. "It also
gives the leaders of emerging businesses an unmatched opportunity to develop
their management skills in the company of some of Canada's best and brightest
entrepreneurs."
Ranking companies by two-year revenue growth, the 2007 PROFIT HOT 50 is
open to firms founded in 2003 and 2004. Any companies that have at least
doubled their sales in the past two years are encouraged to nominate
themselves.
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Sales of local advertising for Canadian radio stations reach one billion dollars
OTTAWA, and GATINEAU - The Canadian Radio-television and Telecommunications Commission (CRTC) released the financial results for the Canadian private commercial radio industry. From 2005 to 2006, total revenues for AM and FM radio stations increased by 5.7%, going from $1.3 billion to $1.4 billion, while sales for local advertising rose by 4.6%, to reach 1.04 billion dollars in 2006, compared with $990.9 million in 2005. Sales of national advertising increased by 9% in one year, rising from $322.6 million to $351.5 million.
Profits before interest and taxes (PBIT) increased by 2.7% to $284.5
million in 2006. The PBIT margin remained steady at 20% in 2005 and 2006.
Total spending by radio stations rose by 6.1% in one year, up to $1.1 billion
in 2006.
AM radio
AM radio experienced stronger growth in revenues between 2005 and 2006
than at any other time in the last five years. Revenues rose by 4.6%, from
$306 million to $320 million, while the average rate of revenue growth between
2002 and 2006 was 1.9%. PBIT also increased, going from $13.3 million to $17.8
million, an increase of 33.7%.
The increase in revenues was even more pronounced for the 155
English-language AM radio stations. Their revenues rose by 5.3% to $280.4
million in 2006, while PBIT came in at $23 million, an increase of 33.4% over
2005. The 14 French-language AM radio stations experienced revenue growth of
1.4%, from $17.9 million to $18.2 million. However, they experienced losses of
$7.4 million before interest and taxes in 2006, compared with losses of
$6.7 million in 2005.
As for the 9 ethnic and Aboriginal AM radio stations, their revenues
declined by 1.2%, coming in at $21.5 million in 2006, and their PBIT totalled
$2.1 million.
FM radio
Revenues for FM radio stations in Canada have been steadily increasing
over the last five years. They reached $1.1 billion in 2006, which represents
a growth of 6% over the $1.03 billion posted in 2005. PBIT remained relatively
stable, coming in at $266.7 million in 2006 compared with $263.7 million in
2005.
The 331 English-language FM radio stations posted total revenues of
$877.3 million in 2006, an increase of 6.1%, and PBIT held steady at
$232.9 million. As for the 79 French-language FM radio stations, their
revenues hit $200.3 million, which is an increase of 4.8% over the previous
year, and their PBIT totalled $32.9 million in 2006, up by 9.8% from 2005.
Finally, revenues for the 9 ethnic and Aboriginal radio stations
increased by 15.2%, rising from $13.1 million in 2005 to $15.1 million in
2006. Their PBIT remained more or less stable, coming in at $924,937 compared
with $919,356 the previous year.
The Canadian radio industry employed 9,763 people in 2006 and paid a
total of $577.8 million in salaries.
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Multimedia purchases "The Journal Community Newspaper, The Bloor West Village Journal"
TORONTO - Multimedia Nova Corporation is pleased to announce that it has acquired all of the shares of a private company that owns the intellectual property of "The Journal Community Newspaper, The Bloor West Village Journal", a neighbourhood newspaper published and distributed in and around Bloor West Village, Swansea and Etobicoke, in the City of Toronto. The Company issued 150,000 Class A shares to the vendor, George P. Longo, at an agreed price of $0.21 per share. Mr. Longo has joined the Company as an employee on standard employment terms.
Multimedia Nova Corporation's President, Lori Abittan, stated, "We look
forward to continuing to provide quality regional and local-content through
"The Journal Community Newspaper, The Bloor West Village Journal" and are
pleased to add this publication to the Company's numerous community newspapers
in the Greater Toronto Area. The Bloor West Village Journal fits perfectly and
supplements an area not serviced by our existing Town Crier and Tandem
publications. We welcome Mr. Longo, founder of the Bloor West Village Journal,
and his staff to the Multimedia team." Mr. Longo stated, "We're combining our
resources to enhance our west-end publishing team in producing top-notch local
stories that you won't find anywhere else. What you can expect is more page,
more stories and continued great service for our friendly local businesses and
a strong, independent local voice that's going to be here for a very long
time."
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The Thomson Corporation and Reuters Group Plc Recommended Transaction
LONDON - The boards of Thomson and Reuters announce that on May 15, 2007 have agreed to combine the two groups. The boards of Thomson and Reuters intend to recommend the Transaction to their shareholders.
Woodbridge, the Thomson family holding company which controls
approximately 70% of Thomson, has irrevocably committed to vote in favour of
the Transaction and the Reuters Founders Share Company, which controls a
special share in Reuters, has resolved to support the Transaction.
The boards of Thomson and Reuters believe there is a natural fit and
compelling logic in creating a global leader in electronic information
services, trading systems and news:
-- Customers will benefit from seamless access to richer content and
broader capabilities across financial and professional markets from a trusted
provider
-- The Combined Business will be positioned to benefit from the
continuing shift towards electronic delivery of information to professional
and financial customers
-- Complementary geographic and product markets
-- Diversified revenue streams and a larger capital base will provide a
stable platform from which to invest and grow
-- Thomson and Reuters brands will be maintained in their key areas of
strength
-- Synergies at an annual run-rate of in excess of US$500 million
expected by the end of the third year after closing
-- Complementary management culture and values
-- Dual listed company structure will allow the Combined Business to
have listings in Canada, the UK and the US and will enable both sets of
shareholders to participate in further value creation
-- The Combined Business will adopt the Reuter Trust Principles
The combination will be effected through a dual listed company structure.
The companies will be separate legal entities but will be managed and operated
as if they were a single economic enterprise. The companies' economic
interests will be aligned and they will pursue common objectives. The boards
of the two companies will be identical and the Combined Business will be
managed by a single senior executive management team. Thomson will be renamed
Thomson-Reuters Corporation. The Combined Business will be called
Thomson-Reuters and the combined Thomson Financial unit and Reuters financial
and media businesses will be called Reuters. The existing Thomson professional
businesses - Legal, Tax & Accounting, Scientific and Healthcare - will
together be known as Thomson-Reuters Professional.
To effect the Transaction, Reuters will be acquired by a newly formed UK
holding company, Thomson-Reuters PLC, through a scheme of arrangement in which
each Reuters Share will be entitled to 352.5 pence per share in cash and 0.16
Thomson-Reuters PLC shares. Each Thomson-Reuters PLC Share will be equivalent
to one Thomson-Reuters Corporation Share. Based on the closing Thomson share
price of C$48.46 on the Toronto Stock Exchange on Thursday 3 May 2007, the day
before the initial announcement by Reuters (and at an exchange rate of GBP 1:
C$2.19795), this would value each Reuters share at approximately 705 pence
representing a premium of approximately 43% to the closing share price of
Reuters on Thursday 3 May 2007. Based on the closing Thomson share price of
C$46.36 and exchange rate of GBP 1: C$2.19360 on 14 May 2007, the day before
this announcement, this would value each Reuters Share at approximately 691
pence and values the entire existing issued share capital of Reuters at
approximately GBP 8.7 billion. The cash consideration for the Transaction will
be funded by Thomson.
Based on current issued share capital, 201,095,235 shares in
Thomson-Reuters PLC will be issued to Reuters Shareholders in the Transaction
on completion. On that basis, Woodbridge will own approximately 53% of the
Combined Business, other Thomson Shareholders approximately 23% and Reuters
Shareholders approximately 24%.
The Combined Business will adopt the Reuter Trust Principles and Reuters
Founders Share Company structure. Woodbridge has agreed that it will use its
voting control to support the Reuter Trust Principles.
The Transaction is subject to the pre-conditions of anti-trust
clearances, all of which are waivable. Thomson has undertaken to take whatever
steps are required to procure such clearances. Upon receipt of anti-trust
clearances, documentation will be posted to Reuters Shareholders to approve a
court-approved scheme of arrangement to establish Thomson-Reuters PLC as the
new holding company of Reuters. Around the same time, documentation will be
posted to Thomson Shareholders to effect a court-approved Ontario Plan of
Arrangement to effect the Transaction.
Reuters CEO, Tom Glocer, 47, will become CEO of the Combined Business at
the time the Transaction closes. Thomson President and CEO, Richard J.
Harrington, 60, who led the transformation of the company from traditional
publishing to electronic solutions, software and services, will retire at the
completion of the Transaction. Devin Wenig, currently COO of Reuters, will be
CEO of Reuters (the combined Thomson Financial unit and Reuters financial and
media businesses) and Jim Smith, currently COO of Thomson, will be CEO of
Thomson-Reuters Professional. Other members of the senior management team will
include Bob Daleo (currently Thomson CFO) as CFO, Michael Wilens (currently
Thomson CTO) as CTO, Stephen Dando (currently Reuters Group HR Director) as
Chief Human Resources Officer, and David Schlesinger (currently Reuters
Editor-in-Chief) as Editor-in-Chief.
The Chairman will be David Thomson, and the Deputy Chairmen will be W.
Geoffrey Beattie and Niall FitzGerald who will also serve as Senior
Independent Director.
David Thomson, Chairman of Thomson, said "We are enormously proud of the
evolution of The Thomson Corporation and the value it has created for all our
shareholders. We recognize the rich history of Reuters and are committed to
uphold the Reuter Trust Principles. I am pleased to welcome Niall and Tom and
look forward to working with them to grow our business."
Niall FitzGerald, Chairman of Reuters, said "This is an historic day for
Reuters and represents an important chapter in the development of our company
and the commitment to our heritage. The shared expertise and complementary
strengths of these two companies makes for a strategically compelling and
financially attractive combination. I am especially proud that Reuters
journalism will continue to be governed by the powerful Reuter Trust
Principles of independence, integrity and freedom from bias."
Thomson President and CEO, Richard J. Harrington, said "This combination
marks a strategic milestone for both companies. For Thomson, it is a defining
moment in our journey to become the information provider of choice for the
world's business and professional markets. Thomson has a long history of
creating value for all its stakeholders and this Transaction builds on that
tradition."
Tom Glocer, CEO of Reuters, said "I am looking forward to the opportunity
of being the first CEO of Thomson-Reuters. The combination of these two great
businesses will create an exceptional global information company guided by the
Reuter Trust Principles. It will provide a broader offering to our customers,
deliver value to our shareholders and create great opportunities for our
people."
Pehr Gyllenhammar, Chairman of the Trustees, said "The Trustees are
pleased to give their support to the proposed business combination of Thomson
and Reuters. We believe that the formation of Thomson-Reuters marks a
watershed in the global information business, and will underpin the strength,
integrity and sustainability of Reuters as a global leader in news and
financial information for many years to come."
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Wireless Industry Operating profit in the wireless industry increased by 67.1%
Telecommunications statistics Fourth quarter 2006 and 2006
Operating profit in the wireless industry increased by 67.1% compared with the same period a year earlier to just over $1 billion in the fourth quarter of 2006, substantially more than the $675 million posted by the traditional wireline segment. This increase in operating profit was attributable to the wireless industry's increase in revenues (16.2% over the fourth quarter of 2005 to $3.4 billion in 2006), while holding down the increase in costs during the same period to 2.8%.
The traditional wireline industry did not fare as well in the fourth quarter of 2006, with profits falling 23.7% compared with the same period a year earlier. This was due to the 1.5% reduction in operating revenues which fell to $5.6 billion, while operating expenses grew by 2.6% over the same period. With wireline operating revenues declining by 2.2% between 2005 and 2006 (preliminary) to $22.0 billion, and operating expenses increasing by 0.4% over the same period, operating profit declined 14.0% to settle at $3.5 billion in 2006.
There were 55.1 mobile subscribers per 100 inhabitants at the end of 2006, almost identical to the 55.3 traditional wireline access lines per 100 inhabitants. This convergence in usage rates has been ongoing since the introduction of cellular service in Canada. For example, at the end of the first quarter of 1999, there were 18.7 wireless subscribers per 100 inhabitants, whereas there were 64.4 traditional wireline access lines per 100 inhabitants.
The number of wireless subscribers increased 8.4% to just over 18 million in the fourth quarter of 2006. The operating revenue per subscriber also increased at the end of 2006, climbing 7.2% to approximately $190 per subscriber compared with $177 in the fourth quarter of 2005. These data suggest that not only has the wireless industry continued to attract more users, but the industry has also managed to increase the usage per subscriber.
The traditional wireline industry increased its capital expenditures per dollar of revenue faster than the wireless industry. In 2006, capital expenditure per dollar of revenue increased by 3.6% for the wireline industry over 2005. Conversely, the wireless industry maintained a relatively flat growth of 0.5% over 2005.
| Summary of operating indicators |
| Telecommunications industries |
Fourth quarter |
Year to date |
| |
2005 |
2006 |
2005 to 2006 |
2006 |
2005 to 2006 |
| |
$ thousands |
% |
$ thousands |
% |
| Telecommunications |
|
|
|
|
|
| Operating revenues |
9,005,199 |
9,414,632 |
4.5 |
36,357,820 |
3.9 |
| Operating expenses |
7,453,000 |
7,650,871 |
2.7 |
28,521,785 |
2.7 |
| Operating profit |
1,552,199 |
1,763,761 |
13.6 |
7,836,036 |
8.8 |
| Operating margin (%) |
17.2 |
18.7 |
8.7 |
21.6 |
... |
| Wireline industry |
|
|
|
|
|
| Operating revenues |
5,679,154 |
5,593,082 |
-1.5 |
22,030,637 |
-2.2 |
| Operating expenses |
4,794,385 |
4,918,093 |
2.6 |
18,511,085 |
0.4 |
| Operating profit |
884,769 |
674,989 |
-23.7 |
3,519,552 |
-14.0 |
| Operating margin (%) |
15.6 |
12.1 |
-22.5 |
16.0 |
... |
| Wireless industry |
|
|
|
|
|
| Operating revenues |
2,948,097 |
3,426,225 |
16.2 |
12,800,740 |
16.5 |
| Operating expenses |
2,333,435 |
2,398,963 |
2.8 |
8,766,394 |
7.8 |
| Operating profit |
614,661 |
1,027,262 |
67.1 |
4,034,346 |
41.3 |
| Operating margin (%) |
20.8 |
30.0 |
43.8 |
31.5 |
... |
|
| Lines and subscribers |
| Telecommunications industries |
Fourth quarter |
| |
2005 |
2006 |
2005 to 2006 |
| |
number |
% |
| Traditional fixed access lines1 |
18,976,504 |
18,108,769 |
-4.6 |
| Residential |
11,948,476 |
11,147,690 |
-6.7 |
| Business |
7,028,028 |
6,961,079 |
-1.0 |
| Fixed access lines per 100 inhabitants |
58.6 |
55.3 |
-5.5 |
| Mobile subscribers |
16,642,020 |
18,041,640 |
8.4 |
| Mobile subscribers per 100 inhabitants |
51.4 |
55.1 |
7.2 |
| 1. | Expressed in voice grade equivalent. |
|
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Winners and Runners-up announced for 2006 National Newspaper Awards
TORONTO - The Globe and Mail walked off with four of the 20 awards handed out at the 58th National Newspaper Awards celebrations in Winnipeg on May 11, 2007.
Close behind was La Presse of Montreal, the Ottawa Citizen and the
Toronto Star with three awards each. The Whig-Standard in Kingston collected
two while others went to the National Post, The Record of Waterloo Region,
Saskatoon StarPhoenix, Le Journal de Montreal and The Canadian Press.
In all, 20 news organizations were nominated.
There were 1,380 entries in this year's competition for works that were
published in 2006.
The winners received cheques for $1,500 and a certificate of award.
Runners-up received citations of merit and cash awards of $250 each.
This is the 18th year for the NNAs under a Board of Governors which
includes editors, publishers and the public from across Canada as well as
representatives from the Toronto Press Club. Previous to 1989, the NNAs had
been administered by the Toronto Press Club. The awards are housed in the
offices of the Canadian Newspaper Association.
The National Newspaper Awards were founded by the Toronto Press Club in
1949.
<<
Highlights:
- Lisa Rochon of The Globe and Mail won her second straight NNA for Arts
and Entertainment.
- David Pugliese of the Ottawa Citizen won in both Beats and in
Politics. The two awards boosted his total to three. He last won in
2002.
- There were 32 first-time nominees and they won 11 of the 20 awards.
- Yves Boisvert won for Column work. He first won for Short Features in
2004.
The winners and runners-up:
- Arts and Entertainment: Winner - Lisa Rochon, The Globe and Mail, for
stories about architecture; Runners-up - Robert Everett-Green, The
Globe and Mail, for stories about the arts scene;; Juan Rodriguez of
The Gazette in Montreal for features about Quebec's music scene and
pop culture.
- Beat Reporting: Winner - David Pugliese of the Ottawa Citizen for
coverage of the Canadian military; Runners-up - Kim Bolan, The
Vancouver Sun, for coverage of crime; Stephanie Nolen of The Globe and
Mail for stories of the AIDS crisis in Africa;
- Breaking News: Winner - A newsroom team from La Presse in Montreal for
their coverage of the Dawson College incident last September;
Runners-up - Steve Mertl, Terri Theodore, Dirk Meissner of The
Canadian Press for their stories of the sinking of the Queen Of The
North ferry near Prince Rupert; a newsroom team from The Gazette in
Montreal for their coverage of the shootings at Dawson College.
- Business: Winner - Brent Jang and Paul Waldie of The Globe and Mail
for a look at the Westjet-Air Canada spy case; Runners-up - James
Bagnall and Glen McGregor, Ottawa Citizen, for stories of the $146
million Department of National Defence fraud case; Jacquie McNish, The
Globe and Mail, for a behind-the-scenes look at the Falconbridge-Inco
takeover battle.
- Columns: Winner - Yves Boisvert, La Presse, Montreal; Runners-up -
Susan Clairmont, The Hamilton Spectator; Paula Simons, Edmonton
Journal.
- Editorial Cartooning: Winner - Marc Beaudet, Le Journal de Montréal;
Runners-up - Brian Gable, The Globe and Mail; Graham Harrop, The
Vancouver Sun.
- Editorial Writing: Winner - John Roe, The Record of Waterloo Region;
Runners-up - David Evans, Edmonton Journal; Sean Fine, The Globe and
Mail.
- Explanatory Work: Winner - Steve Ladurantaye of the Kingston Whig-
Standard for an examination of the real cost of a car accident in both
human and monetary terms; Runners-up - Jim Rankin of the Toronto Star
for look at what happens when Canadian soldiers in Afghanistan die;
David Staples of the Edmonton Journal for a story on the complex and
social history of infanticide after a jury had found a young mother
guilty of killing her newborn.
- Feature Photography: Winner - Gord Waldner of the Saskatoon
StarPhoenix for a photo of a little girl with Santa Claus;
Runners-up--Colin O'Connor, National Post, for a photo of children up
a tree in Uganda; Lyle Stafford, Reuters, for a photo of PM Stephen
Harper getting his nose tweaked;
- International: Winner - Marie-Claude Malboeuf, La Presse, Montreal,
for stories on the misery and despair that continue to plague the
survivors of the Chernobyl nuclear disaster; Runners-up - Stephanie
Nolen, The Globe and Mail, for stores from Zimbabwe chronicling the
troubling legacy of Robert Mugabe's brutal regime. Dan Lett, Winnipeg
Free Press, for an examination of the perils and politics of
international food aid.
- Investigations: Winner - Omar El Akkad and Greg McArthur of The Globe
and Mail for an indepth look at online activities of the 17 Toronto-
area young men accused of terrorism planning; Runners-up - Patrick
Lagacé of La Presse in Montreal for a story about former Olympic
biathlete Myriam Bédard's relationship with her partner; Harold Levy
of the Toronto Star for an investigation into the lack of protection
for homeowners caught in a mortgage fraud.
- Local Reporting: Winner - Paul Schliesmann of the Kingston Whig-
Standard for stories about his wife Tracy's battle with cancer that
ended with her death; Runners-up - Carole Morris, Valley Today in
Windsor, N.S., for her stories about the mysterious disappearance and
search for a young man later found dead in a bog; a team from the
Guelph Mercury for stories about the 10th anniversary of Guelph's
pioneering waste management system.
- Long Features: Winner - Mitch Potter of the Toronto Star for profiling
life with a Canadian military unit in the dust of Afghanistan's
Kandahar province; Runners-up - Katia Gagnon and Hugo Meunier, La
Presse in Montreal, for a feature that exposes the state of who owns
and who lives in Montreal's slums; Jan Wong, The Globe and Mail,
examines the world of the working poor by taking a job for a month as
a cleaning lady for $7.75 an hour.
- News Photography: Winner - Peter McCabe for a photo of Dawson College
students fleeing out of a doorway while a police officer, with the
body of the suspect at his feet, trains his weapon on the doorway, not
sure if there are more gunmen; Runners-up - Luc Laforce, Le Journal de
Montréal, for a photo of emergency personnel hustling a wounded
student away from Dawson College in the aftermath of the September
shooting; Bruce Stotesbury of the Victoria Times Colonist for a photo
of an anguished protester who was forced to find open air to escape
the effects of tear-gas.
- Politics: Winner - David Pugliese, Ottawa Citizen, for a series
tracing the political manoeuvring behind the decision to commit
Canadian troops to the Kandahar war zone in Afghanistan;
Runners-up - Steve Buist, Naomi Powell and Joan Walters, Hamilton
Spectator, for a series on a secret lease arrangement between the city
of Hamilton and the operators of John Munro Airport; Michael Valpy,
The Globe and Mail, for an in-depth, 14,000-word profile of Liberal
leadership candidate Michael Ignatieff.
- Presentation: Winner - Geneviève Biloski, National Post;
Runners-up - Cinders McLeod, The Globe and Mail; Philippe Tardif, La
Presse, Montreal.
- Short Features: Winner - Jen Gerson of the Toronto Star for a story of
a Christian youth gathering in Hamilton; Runners-up - Peter Calamai of
the Toronto Star for a science story on the killing apparatus and
venom of a sea creature in capturing its prey; Agnès Gruda of La
Presse in Montreal for a story on a young woman who became a lifeguard
on the shores of the Mediterranean in Gaza.
- Special Project: Winner - The Globe and Mail for a series on the
personal and public face of cancer; Runners-up - Toronto Star for a
project on drinking and driving stemming from routine alcohol-related
fatality; The Windsor Star for a project on workplace violence after
the murder of a local nurse.
- Sports Writing: Winner - Alex Hutchinson of the Ottawa Citizen for a
story on the hardships facing Kenyan marathon runners enticed to
compete in Canada; Runners-up - Colin Hunter, The Record of Waterloo
Region, for reports on athletes engaged in emerging sports like
kickboxing and parkour; Paul Wiecek, Winnipeg Free Press, for a story
on the sad fate of old racehorses that wind up as a premium-priced
delicacy in Europe and Asia.
- Sports Photography: Winner - Steve Russell of the Toronto Star for a
photo of a controversial and disallowed goal scored by Canada's Rick
Nash on Swiss goalie Martin Gerber; Runners-up - J.P. Muczulski of
Reuters for an extreme closeup of a tumble involving Jorge Garbajosa
of the Toronto Raptors and Philadelphia 76ers Steven Hunter in a pro
basketball game; Ryan Remiorz of The Canadian Press for a photo of
jubilant B.C. Lions holding pieces of a broken Grey Cup after their
win over the Montreal Alouettes.
>>
|
National Coalition Calls for Greater Competition in Wireless
OTTAWA - Canada needs to permit new competitors in the wireless sector to ensure consumers are offered lower prices and advanced services which other countries already enjoy, a new coalition created to build support for competition in the Canadian wireless sector said May 11, 2007.
Need for increased competition
In its final report, released on March 22, 2006, the Telecom Policy Review Panel identified the need for a more efficient and vibrant wireless industry with more competition: "The smaller number of mobile providers in Canada may mean that there is less competition in the Canadian market than in the U.S. market, which consequently has resulted in higher prices, less innovation, lower uptake and lower rates of usage the Panel concludes that Canada's mobile wireless industry lags behind its major trading partners on a number of key measures."
"Currently, three companies control the entire Canadian market and that has led to higher prices, and less advanced technologies than are common in Europe, the U.S. and Asia," said Luc Lavoie, Coalition Spokesperson and Executive Vice President of Quebecor. "The solution for this is very simple - more competition will help lower prices and introduce the technologies that Canadians will need to compete globally in the wireless economy."
The Coalition will be reaching out to businesses and consumers to make them aware of the government's process and to the fact that Canada lags behind the rest of the world in this sector in terms of price and technology. The Coalition has launched a website to provide information and research on the Canadian wireless landscape and encourages people who agree with its position to register their support on the website, www.wirelessfuture.ca, in the interest of Canadian consumers and businesses.
"Communications costs are a significant issue for business, especially small businesses," said Coalition Spokesperson Chris Peirce, Chief Regulatory Officer of MTS Allstream. "For many Canadians it would actually be cheaper to buy a US plan for use in Canada than to buy from our existing national providers. Clearly, Canadians should be able to expect more competitive choice in wireless services."
Coalition expressed surprise that Canada's largest telecom providers are lobbying the government not to create conditions that could allow new players into the market, claiming that this would constitute a subsidy or unfair competition.
"The three largest players have already received favourable treatment from the government," said Luc Lavoie. "For example, in 1984 they were granted frequency free of charge, without auction or any other fee. In 1995, they were granted an additional 10 MHz, and no spectrum was granted to new players."
Call to action
Federal Industry Minister Maxime Bernier issued a consultation document on the future of advanced wireless services on February 16th. Comments from interested parties are due by May 25, 2007.
The Coalition for Wireless Competition, launched by Videotron Ltd., MTS Allstream and Mipps Inc., plans to raise awareness over the coming weeks, encouraging Canadian consumers and businesses to make their views known and tell the government they want genuine competition in wireless services in Canada
|
Canada's best-performing stocks unveiled in the 8th-annual Canadian Business Investor 500 ranking
Canadian stock-pickers will not want to miss the most thorough and
forward-looking I500 yet
TORONTO - The numbers have been crunched and they confirm the past year was tough on the markets. In Canadian Business magazine's annual ranking of Canada's 500 largest publicly traded companies (by market capitalization), only 338 stocks, or 67.6.%, showed a positive return for the 12-month period ending April 13. Last year, 86% accomplished that feat. Stocks with double-digit gains or better numbered 271, compared to 386 the previous year. Most noticeable? The average annual gain in this year's Investor 500 was just 33.9%. Last year? 90.5%. <<
Top 3 Large-Cap Companies by 1-Year Return:
-------------------------------------------------------------------------
Rank Company 1-Year Return (%)
-------------------------------------------------------------------------
1. Potash Corp. of Saskatchewan Inc. 107.0
-------------------------------------------------------------------------
2. Rogers Communications Inc. 82.9
-------------------------------------------------------------------------
3. Research in Motion Ltd. 71.1
-------------------------------------------------------------------------
Top 3 Mid-Cap Companies by 1-Year Return:
-------------------------------------------------------------------------
Rank Company 1-Year Return (%)
-------------------------------------------------------------------------
1. Blue Pearl Mining Ltd. 375.9
-------------------------------------------------------------------------
2. LionOre Mining International Ltd. 253.7
-------------------------------------------------------------------------
3. Pinetree Capital Ltd. 202.2
-------------------------------------------------------------------------
Top 3 Small-Cap Companies by 1-Year Return:
-------------------------------------------------------------------------
Rank Company 1-Year Return (%)
-------------------------------------------------------------------------
1. Aurelian Resources Inc. 1,099.7
-------------------------------------------------------------------------
2. Wi-LAN Inc. 900.0
-------------------------------------------------------------------------
3. Allen-Vanguard Corp. 449.5
-------------------------------------------------------------------------
>>
The most comprehensive and forward-looking ranking of its kind
Not only does Canadian Business magazine look back at the previous years'
best performers, it also provides forward-looking picks, based on screens for
different criteria suited to various investing styles, from value and growth
to income and safety. And this year, to emphasize that the I500 is more about
ideas, not recommendations, Canadian Business has expanded its offering
further, by going in-depth on some of the companies that provide the ranking's
highlights (and lowlights), and offering macro takes on sectors and trends,
from oil and gas to global currency instability.
Canadian Business also ranks the top 50 companies by revenue, profit,
market cap and one- and five-year return. Also, Canadian Business' writers go
beyond the Canadian stocks to highlight some strong performers in overseas
markets.
|
Hip Hop Artist Wins Online Battle of the Bands
More than 30,000 Canadian's Voted in the Yahoo! Canada and Universal
Music Contest
TORONTO - After 500 video uploads and 250,000 streams, more than 30,000 Canadians voted to determine Seazon's Shaun Boothe as the first prize winner of the Yahoo! Universal Up Yours online Music competition. Boothe's hip hop video The Reporter conveys a social message which was relevant to Canadians. Watch it here http://ca.upyourmusic.yahoo.com/No.v=110222 and find out what made this clip stand out amongst the competition.
"Seazon's video was selected by the people from hundreds of entrants and
we look forward to celebrating in his success both as a contest winner and as
a star on the rise," said Kerry Munro, general manager, Yahoo! Canada. "We
were able to provide users with the right tools to make a discovery and this
contest is an example of how user generated content will continue to grow and
make an impact on industries and at an individual level."
The success of Boothe's video The Reporter reflects a shift in the music
industry which amongst other consumer markets has evolved to empower consumers
with choice. Yahoo! Canada teamed up with Universal Music to discover what
type of music inspires Canadians and find out who the public wants to see
succeed. Yahoo! Canada provided the tools and means to do so and Canadians
made their choice in Seazon.
"In the past, artists have struggled to get ears and eyeballs in front of
their music, first music was heard on the radio, than seen and heard on TV,"
said Shaun Boothe of Seazon. "Yahoo! Canada and Universal made it possible for
me to connect directly with a targeted audience that found my work relevant
allowing a direct connection to the public. As an independent artist, I am
thrilled to have this opportunity to be affiliated with Universal and to
attend the coveted Metal Works program."
Yahoo! Canada and Universal Music Canada teamed up to give independent
musicians a shot at stardom by uploading their videos onto the "Up Yours"
microsite www.upyourmusic.ca. The voting closed on Sunday May 6th, 2007 at
midnight with a total of 32, 232 votes the lion's share going to Shaun who had
a total of 13,662 votes.
Highlights:
- Over 500 videos uploaded from more than 300 artists across the
country
- Over 250,000 video streams viewed
- Thousands of ratings and comments about the videos from Yahoo!
Canada users
- More than 30,000 votes cast to select the final winner
- View all submissions, including the winner on the site
|
Osprey Media Income Fund announces strong 2007 first quarter results
MARKHAM - Osprey Media Income Fund (the "Fund") announced results for the first quarter ended March 31, 2007. Revenue for the quarter increased to $53.8 million compared to $52.7 million in 2006, resulting in Adjusted EBITDA(1) of $11.7 million, an improvement of $1.0 million or 9.3% over the $10.7 million recorded in 2006. Adjusted EBITDA margin for the quarter was 21.8% compared to 20.4% last year. Net income was $3.8 million compared to net income of $31.9 million in 2006 ($0.8 million in 2006 after adjusting for an income tax recovery of $31.1 million). Distributable cash(1) for the quarter was $9.0 million or $0.184 per unit compared to $7.8 million or $0.159 per unit last year.
Cash distribution declared for the quarter totaled $9.4 million, or
$0.192 per unit. This reflected monthly distributions of $0.064 per unit in
accordance with the Fund's annual rate of $0.768 per unit.
Commenting on the results, Michael Sifton, President & Chief Executive
Officer of the Fund, said, "We were very pleased with the first quarter
results. Increased spending by the automotive, financial services and
technology sectors drove improvements in national advertising, while higher
insert volumes contributed to higher retail revenue. The strong growth in
classified advertising was encouraging. Some of the improvement in both
national and classified revenue is attributable to the centralization
initiatives we completed last year."
Mr. Sifton noted that while circulation revenue was lower than 2006, it
is stabilizing. More importantly, Osprey continues to add readership in key
markets according to the latest NADbank figures. Online traffic is also
responding favourably to Osprey's Internet strategy. "Our online revenue
initiatives are starting to take hold as we develop a revenue model that will
maximize the value of our award winning content."
"We were also encouraged by our progress on cost containment," Mr. Sifton
added. "Operating expenses were essentially flat to last year after
adjustments, despite having to absorb general labour rate increases,
additional mailroom costs, and costs related to the corporate sales office and
Internet media projects. Our cost reduction initiatives are taking hold as we
had planned."
Strategic Review Process
The Fund's review of strategic alternatives to enhance unitholder value
announced on March 5, 2007 in response to the Federal Government's announced
intention to tax income trusts, is proceeding. Material developments will be
disclosed as and when appropriate
|
Transcontinental's Isabelle Marcoux Named One of Canada's Top 40 Under 40(TM)
MONTREAL - Rémi Marcoux, Executive Chairman of the Board of Transcontinental Inc., and Luc Desjardins, President and CEO, are pleased to announce that Isabelle Marcoux, Vice Chair of the Board and Vice President, Corporate Development, has been selected as one of Canada's Top 40 Under 40(TM) for 2007.
Top 40 Under 40(TM) honorees are selected by an expert panel of
29 business and community leaders from up to 1,400 nominees from across
Canada. Ms. Marcoux was chosen for her important contributions to
Transcontinental's success and growth over the past ten years, and for her
deep commitment to giving back to the community.
"Isabelle Marcoux is a key member of our corporate team and someone who
always achieves a high standard of excellence in everything she does," said
Luc Desjardins. "The recognition of Isabelle as one of Canada's Top 40 Under
40(TM) confirms something that the people who work with her have always known.
Her achievements are truly remarkable."
Ms. Marcoux joined Transcontinental in 1997 and has held the positions of
Legal Counsel, Director of Mergers and Acquisitions and, since March 2004,
Vice President of Corporate Development. In addition to leading the
Corporation's merger and acquisition activities, she is responsible for the
strategic planning process. She is also a member of the Executive Committee.
Ms. Marcoux was appointed Vice Chair of the Board at the beginning of the
year. She holds degrees in political sciences, economics and law from McGill
University and is a member of the Quebec Bar.
Ms. Marcoux also has shown a deep and long-standing commitment to her
community, an important consideration in her selection. Since 2003, she has
been a member of the Montréal Children's Hospital Foundation Board, and headed
the capital campaign for its Failure to Thrive Clinic. In 2002-2004, she was a
member of the Communications Industry Committee of Montréal United Way Capital
Campaign. Last Fall, Ms. Marcoux also served as honorary president of Exklusiv
2006, a gala evening to raise funds for the Fondation du maire de Montréal
pour la jeunesse, of which she is a board member and whose mission is to help
young low-income Montrealers start up their own companies.
"I am honoured and humbled to be selected for this recognition and to be
in the company of so many others with exceptional talents and achievements,
and I wish to thank the sponsors of this award program for giving all of us
this unique opportunity," said Isabelle Marcoux. "What I have achieved
professionally and in the community is due in no small part to the strong
culture of excellence that Transcontinental, and my family, have worked so
hard to create."
Canada's Top 40 Under 40(TM) is a prestigious national award program,
which annually honours 40 Canadians in the private, public and not-for-profit
sectors under the age of 40. The program, now in its 11th year, is managed by
founding sponsor, The Caldwell Partners. Other sponsors include The Globe and
Mail, Certified General Accountants of Canada, Air Canada and Privilege
Magazine.
|
Thomson and Reuters in Discussions to Form Global Leader in Business-To-Business Information Services
STAMFORD, Conn. and LONDON - The boards of The Thomson Corporation ("Thomson") and Reuters Group PLC ("Reuters") confirm that they are in discussions for the combination of their two businesses. Both boards believe there is a powerful and compelling logic for the combination which would create a global leader in the business-to-business information markets. This transaction would also create enhanced value for shareholders through the delivery of in excess of US$500 million of annual synergies expected to be achieved within three years. The market activity from last Friday and attendant speculation occurred prior to discussions being completed and, as this is a large and complex transaction, much has still to be resolved and there can be no assurance that agreement will be reached.
Under these circumstances, both boards thought that it was in the
shareholders' interests to clarify the status of the discussions as they
related to a number of the material aspects of the potential transaction.
These are as follows:
The enlarged Group would be called Thomson-Reuters and the combined
Thomson Financial unit and Reuters financial and media businesses would be
called Reuters.
<<
Key proposed terms:
- Combination to be effected by the creation of a Dual Listed Company
structure by means of an equalisation agreement with both companies'
primary listings being maintained. The structure is expected to
facilitate retention of the existing equity index inclusions of the
two companies.
- Each Reuters share would be entitled to 352.5 pence per share in cash
and an equity participation based on an equalisation ratio of 0.1600
Thomson shares for each Reuters share.
- Based on the closing Thomson share price of C$48.46 on the Toronto
Stock Exchange on Thursday, 3 May 2007, the day before the
announcement by Reuters (and at an exchange rate of
C$/2.19795 pounds), this would value each Reuters share at 705 pence
representing a premium of 43% to the closing share price of Reuters on
Thursday, 3 May 2007.
- Based on the closing Thomson share price and exchange rate on Monday,
7 May 2007 the day before this announcement, this would value each
Reuters share at 697 pence per share.
- In addition, Reuters will declare a dividend of 12p for 2007, with 5p
payable as an interim dividend and 7p payable as a final dividend
subject to proportionate adjustment if closing occurs before year end.
If closing occurs after the year end a proportionate 2008 dividend
will also be paid. Thomson will also pay dividends in the ordinary
course pending closing, including a proportionate adjustment to the
date of closing.
- Based on the current issued share capital of Thomson and Reuters,
Woodbridge, the Thomson family holding company, would own
approximately 53 per cent. of Thomson-Reuters, other Thomson
shareholders approximately 23 per cent. and Reuters shareholders
approximately 24 per cent.
- Thomson-Reuters to adopt the Reuters Trust Principles and Reuters
Founders Share Company structure. Thomson-Reuters and Woodbridge
would support the Reuters Trust Principles and Woodbridge has further
agreed that it would use its voting control to give effect to this
support.
- The boards of the Dual Listed Companies to be identical and consisting
of 15 Directors, five of whom are to be current Directors of Reuters
(including a Deputy Chairman) and an additional one of whom to be the
CEO. Of the remaining nine, not more than four to be from Woodbridge.
Woodbridge to be entitled to nominate the Chairman.
- Woodbridge to use its voting control of Thomson to support the
transaction.
>>
Thomson President and CEO, Richard J. Harrington, 60, who led the
transformation of the company from traditional publishing to electronic
solutions, software and services, would retire at the successful completion of
the transaction. Reuters CEO, Tom Glocer, 47, would become CEO of the
combined company at that time.
It should be emphasised that discussions are at a stage where there can
be no assurance that agreement will be reached. No transaction will be
announced without the support of the Reuters Founders Share Company. This is
a non-waivable pre-condition. Any announcement of a transaction pursuant to
rule 2.5 of the Takeover Code would be subject to conditions including
antitrust, regulatory and tax clearances and would require approval by both
companies' shareholders (including amendments to both companies'
constitutions).
A further announcement will be made in due course.
The Directors of each of Thomson and Reuters accept responsibility for
the information contained in this document. To the best of the knowledge and
belief of the respective Directors (who have taken all reasonable care to
ensure that such is the case), the information contained in this document is
in accordance with the facts and does not omit anything likely to affect the
import of such information.
|
CanWest agrees to sell its stake in CanWest MediaWorks (NZ) Limited
Expects gross proceeds of approximately NZ$386 million (C$314 million)
WINNIPEG - CanWest Global Communications Corp. announced May 7, 2007 that its subsidiary, CanWest MediaWorks Ireland Holdings (CMIH), had entered into a lock up agreement with HT Media Limited, a wholly owned subsidiary of certain funds managed or advised by Ironbridge Capital Pty Limited, an Australian private equity firm, to sell all of the shares of CanWest MediaWorks (NZ) Limited (MWL) that it holds for a cash price of NZ$2.43 per share.
This represents an enterprise value of NZ$727 million and a 49% premium to the closing trading price (NZ$1.63) of the MWL shares on October 20, 2006, the day prior to the announcement of CanWest's decision to reconsider its ownership in MWL.
Entry into the lock-up agreement and the per share price were the result
of a competitive process conducted by CanWest and its advisors over recent
months. CMIH expects to receive aggregate gross proceeds of approximately
NZ$386 million (approximately C$314 million at current foreign currency
exchange rates) for the 158.6 million ordinary shares that it owns in MWL.
Pursuant to the lock up agreement, HT Media Limited has agreed to make a take
over offer for all of the ordinary shares and outstanding options of MWL. The
take over offer notice is expected to be delivered to MWL within 7 days, and
the offer will be made within 30 days after delivery of the notice. CMIH has
agreed to accept the offer and will tender all of its MWL shares to the offer.
The takeover offer will be subject to a minimum acceptance condition of 50%
and the approval of the proposed acquisition by New Zealand's Overseas
Investment Office. CMIH holds approximately 70% of MWL's issued shares and its
acceptance of the offer will fulfil the minimum acceptance condition.
"We are extremely pleased with the agreement that we have reached for the
sale of MWL," said Tom Strike, President of CanWest MediaWorks International.
"For the last 15 years, we've had the privilege of owning and operating what
we believe are New Zealand's premier media brands - taking TV3 from the brink
of bankruptcy in 1992 to MWL's success today. We wish to thank MWL's
management and staff for their efforts in creating a large and important force
in New Zealand media."
"We have every confidence that MWL will continue as New Zealand's
pre-eminent media company under its new owner," he continued.
Leonard Asper, CanWest's President and Chief Executive Officer, said "For
CanWest, this transaction allows us to further our objective of reducing debt
and redeploying capital consistent with our corporate strategy. By all
financial and other measures, MWL has been an outstanding investment for the
Company over the last 15 years."
Citigroup Global Markets Australia Pty Limited acted as financial advisor
and Russell McVeagh acted as legal advisor to CMIH on the transaction.
|
MySpace Launches Fully Localized Site in Canada
Leading Lifestyle Portal Continues International Expansion with Launch of
Canadian Site in English and French and Secret Show Event with Billy Talent
TORONTO - MySpace, the leading lifestyle portal, announced today the official launch of its Canadian community. The MySpace Canada site is fully localized and available online in both French (http://cf.myspace.com/) and English (http://ca.myspace.com/). In celebration of its fifteenth localized launch overseas, MySpace will host its first Canadian event, a Secret Show performance featuring rock band Billy Talent (http://www.myspace.com/billytalent) in Toronto on May 14, 2007.
"Our goal with the launch of MySpace Canada is to make the site even more
relevant to the Canadian community," said MySpace SVP and General Manager for
International, Travis Katz. "There is an incredible creative community in
Canada, and with this launch we will be better able to showcase the artists,
comedians, and video content that our users are most passionate about, while
creating a truly Canadian home for our users online."
MySpace Canada's local community is part of MySpace's existing global
network with localized sites in the United States, the United Kingdom, Japan,
France, Germany, Australia, Ireland, Spain, Italy, Mexico, Netherlands, New
Zealand, and Latin America. MySpace boasts more than 100 million member
profiles worldwide according to comScore Media Metrics, with nearly six
million users in Canada alone.
Jane Tattersall, the company's first Canadian hire, will oversee Canadian
marketing and content initiatives in her role as Director of Marketing. Jane
comes to MySpace with an extensive background in marketing and music having
served as Marketing Manager at EMI Music Canada, General Manager at AddVice
Marketing, and Manager A&R at Jive/Zomba Records. With Jane's addition,
MySpace aims to position itself as a premiere portal for Canadian specific
content and events.
MySpace will commemorate the official launch of the Canadian site by
hosting a Secret Show in Toronto on May 14 featuring hometown heroes Billy
Talent. Warner Music Canada's Billy Talent is a Juno award winning band, and
Warped Tour veteran. Billy Talent has over 270,000 friends and their hit song
"Red Flag" has over 2,600,000 plays on MySpace. Fan can visit the official Billy Talent profile on MySpace to learn more about the band and upcoming performances (http://www.myspace.com/billytalent). The MySpace Secret Show is free for attendees, and details will be available on www.myspace.com/secretshowsca prior to the show.
Since MySpace's official launch in January 2004, music has been a
cornerstone of MySpace's success with more than three million bands offering
fans exclusive access to their profiles and music projects. With the local
launch of Secret Shows, registered MySpace members have the opportunity to
hear about upcoming shows happening in their area. Past Secret Shows in the
have included diverse acts such as Franz Ferdinand, Gnarls Barkley, The
Killers, James Blunt, and Tenacious D amongst others.
MySpace has developed various events and programs focused on music,
comedy, and video in Canada including:
-- Debut of Quebec's Patrick Watson latest music video "Luscious Life"
on MySpace
-- MySpace debuted the exclusive premiere of City and Colour's live
video for "Knives"
-- Recently honored Canadian non-profit Skate4Cancer with the MySpace
Impact Award in Health and Safety for March 2007 - the organization hosts
popular skating events which raise money for cancer research
-- Premiered the new album from platinum artist Leslie Feist globally on
MySpace
-- Launched MySpace Comedy with a major sponsorship for the Just for
Laughs Comedy Festival in Montreal last summer
-- Partnership with the Calgary Comedy Festival
-- Partnership with North by Northeast (NXNE) Music and Film festival,
one of Canada's most renowned festivals. This year NXNE will feature a MySpace
Canada showcase (www.myspace.com/nxne)
|
Laurier to host international conference on indigenous film and media
WATERLOO — Wilfrid Laurier University will host an international conference on indigenous film and media May 10-12.
About 60 filmmakers and academics, plus students, artists, and activists from Canada, the United States, Mexico, New Zealand and Australia are expected to attend the conference, entitled “Indigenous Film and Media in an International Context.”
Conference attendees will hear presentations, participate in discussions and view screenings of recent indigenous films.
Dr. Wendy Pearson of Laurier’s department of English and Film Studies says participants will be discussing “the emergence of visual technologies as an increasingly important form of cultural work among indigenous peoples around the world.
“The study of film and media work by indigenous artists has remained little studied and significantly under-theorized,” she says.
“This conference will look at questions of representation, identity and politics, the uses of technology, and the problems of invoking a comparative perspective on indigenous cinemas and other media.”
Keynote speakers include:
• Alanis Obomsawin, a member of the Abenaki Nation and one of Canada’s most distinguished documentary filmmakers;
• Shelly Niro, a member of the Turtle Clan of the Kanien’kehaka (Mohawk) Nation, who works in a variety of media including beadwork, painting, photography and film in challenging stereotypical images of Aboriginal peoples;
• Michael Greyeyes, a dancer, choreographer and actor who teaches at York University (which is co-sponsoring the conference);
• Dr. Houston Wood, a professor of English and film studies at Hawai’i Pacific University, who has published widely on indigenous issues in Oceania.
Film screenings, which are open to the public, include:
•
Dream Makers, by Susan Cardinal (which examines natives in film and television from the era of John Ford to North of 60 and Corner Gas);
• Bazÿ, by Lars Goren Petterson (a modern road movie from north of the Arctic Circle, and only the second feature film to be shot in the Sami language);
• Unrepentant: Kevin Annett and Canada’s Genocide, by Louie Lawless (which chronicles a clergyman’s efforts to document and publicize what he asserts to be the “planned extermination” of aboriginal people in church-run residential schools);
• Short films from Australia.
On the last day of the conference, the Turtle Gals Performance Ensemble will perform The Triple Truth. The performance, which incorporates story, song and movement, explores Aboriginal people at work in North America. It is to take place in the Maureen Forrester Recital Hall and is open to the public. Admission is $10.
Information on film screening times and locations, as well as additional information, can be found at www.wlu.ca/arts/indigenousfilm
|
| Alberta and Quebec highest Users of VoiP
December 2006Previous releaseWhile the majority of Canadian households rely on land-line telephone services, a full two-thirds also have cellular telephone service, according to new data from the Residential Telephone Service Survey.
As of December 2006, about 90.5% of households reported having a land-line, while 66.8% reported having at least one cell phone.
About 80% of Alberta households reported using cellular phone service, the highest proportion among the provinces. This contrasted sharply with rates in New Brunswick, where only 57.5% used cell phones and in Quebec, where the proportion was 57.9%.
The proportion of households that relied solely on cell phones remained relatively unchanged from the previous year. About 5.0% of households reported having only a cell phone in December 2006, compared to 4.8% in December 2005.
For the first time, respondents were asked about their use of two additional telecommunication technologies: cable telephone services and "Voice over IP" services.
Cable telephone services are offered by cable television companies and allow subscribers to deliver and receive telephone calls over a cable network. "Voice over IP" or "VoiP" services allow the customer to make and receive calls using the Internet.
As of December 2006, about 10.6% of Canadian households reported using a cable telephone service or a "VoiP" service. About 13.5% used them in Alberta and 13.2% in Quebec, the highest rates among the provinces. Only 4.9% used them in Newfoundland and Labrador, the lowest rate.
Usage rates may reflect availability. Only 3.5% of households in rural areas reported using one or the other of these technologies, compared to 14.1% of households in urban areas with a population of 500,000 or more. Less than 1% of households reported cable telephone or "VoiP" services as their only means of telecommunication.
Almost 10% of Canadians households that reported not having land-line telephone service cited basic local monthly rates and installation charges that were too difficult to afford.
Among those households without a land-line, 78.2% reported having cellular phone service and 31.7% reported using cable telephone or "VoiP" services.
The survey also showed that 1.2% of households did not have any telephone service at all. This rate was unchanged from the previous year.
| Proportion of households by type of phone service, December 2006 |
| |
Land-line |
Cell phone |
Cable telephone/VoiP |
| Canada |
90.5 |
66.8 |
10.6 |
| Newfoundland and Labrador |
95.0 |
61.8 |
4.9 |
| Prince Edward Island |
92.6 |
64.7 |
5.9 |
| Nova Scotia |
93.2 |
63.6 |
10.8 |
| New Brunswick |
94.5 |
57.5 |
5.4 |
| Quebec |
86.4 |
57.9 |
13.2 |
| Ontario |
92.5 |
70.1 |
9.6 |
| Manitoba |
90.7 |
62.4 |
11.5 |
| Saskatchewan |
95.5 |
67.9 |
6.4 |
| Alberta |
88.2 |
80.1 |
13.5 |
| British Columbia |
91.2 |
68.6 |
8.7 |
Note: The Residential Telephone Service Survey, conducted since the fall of 1998, is now carried out for Bell Aliant Regional Communications, Limited Partnership, Bell Canada, MTS Allstream Inc., Northwestel Inc., Saskatchewan Telecommunications and TELUS Communications Company. It monitors residential phone penetration rates and reasons for non-subscribing to assist the Canadian Radio-Television and Telecommunications Commission in making decisions on rate increases and decreases, or subsidies.
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Canada's first online portal for complete coverage of universities and colleges: macleans.ca/universities
TORONTO - Canada's most comprehensive online destination site for current and potential post-secondary students has finally arrived. Announcing the launch of macleans.ca/university, the first website in Canada to offer continuously updated higher education news, from campuses across the country. Already recognized for its expertise in the coverage of universities and education, Maclean's has extended that same reputation in this latest online presence - with the up-to-the-minute analysis, interactivity and points-of-view today's digital consumers are looking for. It's an essential resource for students and recent graduates looking to make educational decisions.
<<
Maclean's unique online package at www.macleans.ca/university includes:
- Daily higher education news: News features and a front page that
changes daily, on the first news website in Canada devoted
entirely to higher education.
- The Maclean's University Panel: Commentary and analysis on the
stories of the day, from the most knowledgeable voices in higher
education: Canada's leading student journalists, student
politicians, academics and university and college administrators.
- Bloggers: Four education and campus culture focused blogs,
including Joey Coleman of joeycoleman.ca, long recognized as
Canada's most popular, and outspoken, student blogger.
- Campus life: Stories about life on campus, from across the country
and around the world.
- Insider Advice: Advice and news-you-can-use from the experts. What
kind of degree will help me get a job? How do I get a reference
letter? How do RESPs work? A constantly growing source of advice
for students and graduates.
- Personalized University Ranking Tool: Use Maclean's data, the same
data that goes into Maclean's annual ranking of Canadian
universities, to create your own ranking of Canadian schools.
And coming soon to macleans.ca/university, expanded and improved features
such as:
- My Cafeteria: Which university has the best food? View photos of
what's being served at universities across Canada, and post your
photos.
- My Residence: Which university has the choicest-or not-student
accommodation? View pictures from inside residences across Canada,
and post your own photos.
- Campus Style: Share yours, and check out others.
- Maclean's Student Film Awards: Submit a short film, view and vote
on films by others. Winners announced at a gala event in the fall.
>>
Macleans.ca/university is overseen by Maclean's managing editor of
special projects Tony Keller, who edits the annual Maclean's University
Rankings Issue, the Student Issue, the new issue devoted to graduate and
professional schools, and the Maclean's Guide to Canadian Universities. The
site's editor is experienced campus journalist Erin Millar, the immediate
past-president of Canadian University Press.
Macleans.ca/university promises to be Canada's most complete coverage of
university, college and education news. Simplify the quest-visit
www.macleans.ca/university.
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Newspaper Group Decries UN Body's Endorsement of Censorship
CNA Calls on Canada to Rally World Support for Press Freedom
OTTAWA - Anne Kothawala, President and CEO of the Canadian Newspaper Association, called on Canada's leaders today to rally the international community against efforts to legitimize restrictions on freedom of expression.
"I am proud that Canada has joined with other like-minded nations in
voting against a UN Human Rights Council resolution that would dress state
censorship in the cloak of legality, under the guise of protecting 'religious
sensibilities,'" Ms Kothawala said in a statement marking World Press Freedom
Day (May 3rd).
"Unfortunately, we failed. The resolution passed, with the effect that a
UN body whose mandate is to protect human rights is now promoting the
suppression of one of the most fundamental of them all."
The CNA has joined the World Association of Newspapers in protesting the
UN Human Rights Council resolution, whose ostensible purpose is to discourage
"defamation of religion." The resolution, which proposes that freedom of
expression "should be exercised with responsibility and may therefore be
subject to limitations as provided by law," was moved by Pakistan. However
democratic countries such as Mexico and South Africa supported it.
"Canada must work harder to impress on our allies that we count on them
to stand with us in upholding human rights," Ms Kothawala said. "We must
insist that the UN Human Rights Council do what it was created to do."
"Authoritarian regimes crave legitimacy, however spurious. The wording of
the UN resolution provides a legalistic, a priori excuse for the repression of
rights of free speech. We cannot stand for censorship to be legitimized
anywhere," she said.
World Press Freedom Day marks the sacrifices of journalists killed or
imprisoned as a consequence of their work. 2006 was one of the bloodiest years
on record, with 110 media workers murdered, according to the WAN. The
Committee to Protect Journalists says a further 134 journalists were
imprisoned as a consequence of their activities in the course of 2006, with
China and Cuba ranking as the world's leading jailers.
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Toronto Star Union questions decisions and executive compensation - suggests shareholders do the same at TORSTAR Annual General Meeting
TORONTO - The morning of May 2, 2007, representatives of the Communications, Energy and Paperworkers Union (CEP, Canada's Largest Media Union) will be distributing information to shareholders which suggest that TORSTAR is making unwise business decisions and paying excessive executive compensation. The Union is angry that TORSTAR executives, in particular CEO Robert Pritchard, continue to see their compensation rise to stratospheric heights, while the share price and profits continue to decline, in turn causing layoffs. The Union also questions the decisions to go heavily into debt to invest in the competition, with no current prospect for any return on that investment.
"We will not accept Torstar forcing its employees and shareholders to
bear the brunt of these bad decisions," said CEP Local 87-M (SONG) President
Brad Honywill. "The employees do not reap windfall improvements in wages and
benefits because of big profit gains and, conversely, these debts should not
be repaid on our backs."
CEP local 87-M represents over 1500 Torstar employees at various
publications throughout Southern Ontario, including the Toronto Star, Hamilton
Spectator, and the Record of Waterloo Region. CEP represents over 15000 media
workers nationwide.
A copy of the information follows.
EXECUTIVE PAY GOES UP AS SHARES GO DOWN
Torstar Corp. the parent company of the Toronto Star, holds its annual
meeting today. As employees we'd like some commitments from the managers who
run the company.
As unionized employees, our future rests with the good health of the
newspaper. Many of us are shareholders as well - so we hold a double stake.
But our interest as employees is greater, because unlike our shareholdings,
with our jobs we can't easily sell up and move on.
We understand that the newspaper faces some difficult conditions. We're
more than happy to work toward resolving them. But we have some questions
about management's commitment to the paper.
Torstar has more than doubled its long term debt in the past year, to
$724 million. A major reason for the increase was Torstar's decision to buy 20
per cent of CTVglobemedia Inc. Higher debt means higher interest payments. How
does Torstar expect to make those payments? Not from its newly acquired stake
in CTVglobemedia.
On the contrary, the company states in its annual report that "this
interest expense will be funded by Torstar's other operations, as there
currently is no expectation of cash distribution from CTVgm."
In other words, Torstar loads up on debt for an investment that's not
expected to yield a cash return - and the Toronto Star helps carry the load.
As employees and shareholders, we question why Torstar bleeds money from
the Toronto Star, its flagship publication, for a passive investment in other
media outlets that aren't yielding a return. Even more troubling: Why is
Toronto Star cash subsidizing an investment in a newspaper and television
network that competes directly with the Star for Toronto readers and
advertisers?
The Star has insisted over the years that it needs healthy profits to
support its editorial principles. We agree. That's why we question why, in a
fiercely competitive market, we're being asked to subsidize an investment in
our own competition. We don't see the logic.
On the revenue side, at a time when the Star should be working to
increase revenue, management continues to insist on using a computer billing
system that has taken over 10 years and untold millions of dollars to
implement. The system continues to be plagued with bugs and the cost to
productivity and revenue is mounting. LiveDeal.ca, the online classified
system that was introduced over a year ago, is just one more example of a good
idea gone bad - revenues on this system last year were approximately one third
of the revenues generated from the old online model.
With a significant overhaul of the newspaper only weeks away, we think
Torstar owes its employees - and its readers - a clear commitment that it will
nurture the Star's strength. And it owes its employees and readers an explicit
promise that the newspaper will not be bled dry to fund investments in media
that do not share the Star's editorial principles.
We also question how Torstar's senior managers are being rewarded for
their performance.
It takes 18 pages of Torstar's annual information circular to explain how
Torstar's top dogs get paid. They receive an alphabet soup of incentives: they
get S-TIPS, M--TIPS and L-TIPS. They get PSUs, DSUs and RSUs. They have their
own pension plan, bolstered by a supplementary pension plan. And while we mere
mortals are credited for one year of service for each year of employment,
Robert Prichard gets a year and a half of pension credits for each year he
spends on the job. And many of TORSTAR's newest employees get no pension at
all.
While we're on the subject of Prichard's pay, we note that it increased
last year by $61,775 - bringing his base pay to $830,525. That's before his
bonus of $648,768, as Torstar's share price continued to sag. And there's
$786,047 worth of shares given to him this year. How much did your pay rise
last year?
We think it's time for investors and employees to get more clarity in how
and why Torstar's managers are paid for their performance.
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Toronto Star Announces New Look, New Size
Comprehensive changes to drive readership, better serve Advertisers and
strengthen Star's leadership position
TORONTO - The Toronto Star announced today it is launching a series of major editorial and advertising initiatives in response to a rapidly evolving media landscape. "As the most read newspaper in Canada, we are incorporating some of the best thinking from around the globe and continuing to take a leadership role in shaping the future of Canadian media," Publisher Jagoda Pike said.
"The changes we are announcing May 2, 2007 are focused on better meeting the needs of our readers and advertisers in print and rapidly accelerating our growth in digital media," Pike said.
The first of these changes will be the launch of a new Toronto Star on
Monday, May 28. The new paper will be easier to read, easier to handle and
filled with the excellent and engaging content readers have come to expect
from the Toronto Star. "Editorially, this means that we intend to put Toronto
and the GTA first in our coverage," Pike said.
Chief among the editorial changes:
- Enhanced local news coverage, which is the content most important to
our readers, will now appear in the first section of the newspaper.
- To make the Toronto Star more readable, the size of the print used in
news stories will increase and more spacing will be added between
each line.
- A new World & Comment section will be published Monday through
Saturday.
- A new daily and weekend Living section that includes all of the Toronto Star's hallmark lifestyle coverage, plus a number of exciting new features.
With the new look will come a more convenient size starting in August, as
the Toronto Star's six presses are converted one by one to the new format. The
conversion will be completed by early October. The width of the newspaper page
will be reduced. The depth of each page will remain the same. With this move,
the Toronto Star becomes the first major metropolitan newspaper in North
America to move to a 46" web width. "This multi-million dollar project will
allow us to offer a size friendlier to our readers and the environment, as we
will reduce our consumption of newsprint," Pike said.
The changes will also affect how advertising is sold, to improve value
for advertisers.
"We intend to become better partners for our advertisers," Pike said.
"For generations virtually all newspaper advertising has been sold by the line
with pricing based on mass readership. We think this is unnecessarily
complicated and does not reflect the value and array of options we can offer
our advertisers."
The Toronto Star's new sales model combines the simplicity of sales by
modular or standard advertising units and the flexibility of pricing based on
each section's readership and demographics.
"Large metropolitan newspapers have long been recognized as effective
mass reach vehicles by advertisers. Early in 2008, we will lead the industry
by adding a signific | |
