V Media Group
V Media Group Inc. (French: Groupe V Média inc.) is a privately held Canadian media owned by the film production and distribution company Remstar. It owns the French-language broadcast network V, which operates primarily in Quebec, as well as the French-language music specialty channels MusiquePlus and MusiMax.
History
In June 2008, Remstar acquired the French-language network TQS, which had been owned by Cogeco and CTVglobemedia but entered bankruptcy protection in late 2007. The network was renamed V the following year. It was later reorganized into a separate entity named V Media Group, which was still majority-owned by Remstar, with a minority share held by a trust controlled by Remstar's owner, Maxime Rémillard.[1]
In December 2013, V Media Group announced plans to purchase MusiquePlus and MusiMax from CTVglobemedia's successor Bell Media, which had earlier in the year received approval to purchase Astral Media on condition it sell several properties including the two French-language music channels.[2]
The acquisition was approved by the CRTC on September 11, 2014. To fund the purchase, 15% stakes in V Media Group were purchased by each of the Caisse, Fonds de solidarité FTQ, and Investissement Québec, while Rémillard's trust also increased its stake. As a result, Remstar remains the largest single shareholder but no longer holds a majority interest in V Media; however Remstar's owner (Rémillard) still has majority control.[3][4][5] The sale closed on September 16, 2014.[5]
Current ownership structure
Following the purchase of MusiquePlus and MusiMax, the shareholders and voting interests of V Media Group are now as follows:[4]
- Remstar Broadcasting (wholly owned by Maxime Rémillard): 45.14% (combination of common and preferred shares)
- Fiducie Seismikmax (trust controlled by Maxime Rémillard): 9.86% (common shares)
- Caisse de dépôt et placement du Québec: 15% (preferred shares)
- Fonds de solidarité FTQ: 15% (preferred shares)
- Investissement Québec: 15% (preferred shares)
References
- ↑ "CRTC Ownership Chart for Remstar" (PDF). 2014-08-19. Retrieved 2014-09-21.
- ↑ "Bell Media signs deal to sell MusiquePlus and MusiMax to V Media Group". Canadian Press. Retrieved 4 December 2013.
- ↑ Faguy, Steve (13 September 2014). "CRTC approves V’s purchase of MusiquePlus/MusiMax". Retrieved 13 September 2014.
- 1 2 "MusiquePlus and MusiMax - Change in effective control and licence amendments". CRTC. Retrieved 13 September 2014.
- 1 2 http://vtele.ca/v/communiques/groupe-v-media-acquiert-musiqueplus-et-musimax-et-annonce-l-arrivee-de-nouveaux-partenaires-financiers_459.php