Wildbrain Ltd.
(MENAFN- Baystreet) 10:58 AM EST - WildBrain Ltd. : Provides the following update with respect to its television broadcast business, including Family Channel, Family Jr., WildBrainTV and Télémagino. Following a recent decision from the Canadian Radio-television and Telecommunications Commission, which found that WildBrain was not the subject of undue disadvantage from Rogers Communications Canada Inc., WildBrain has been unable to negotiate a new carriage agreement with Rogers for the Channels. Rogers has subsequently informed the Company that it intends to remove the Channels from its distribution service, which is expected to occur in the coming months. As a result, WildBrain's previously announced transaction to sell a majority stake in the Channels to IoM Media Ventures will no longer proceed. WildBrain Ltd.
shares T are trading down $0.09 at $1.80.
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